Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews have to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at G. W. Real Property Analysts, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also says that "some banks reinforce routine reviews with post-funding assessments of appraisal quality for a few of their high-risk or higher-value transactions as a way to aid in revealing valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At G. W. Real Property Analysts, we are trained in every type of appraisal review, review process and the responsibilities of review appraisers.