Appraisal Reviews by Daniels Appraisals

As said in a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations, contact Daniels Appraisals.

Appraisal reviews "have to figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or large-value affairs as a way to help in exposing valuation concerns."

In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Daniels Appraisals, we're trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.