Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations, look no further than Zandonatti Appraisal.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also denote whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add typical reviews with post-funding assessments of appraisal quality for some of their higher-liability or high-value contracts as a way to assist in discovering valuation concerns."

In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Zandonatti Appraisal, we are skilled in every kind of appraisal review, review practice and the obligations of review appraisers.