Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Sue E Moore, we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules.

Appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. In addition, they "should indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding assessments of appraisal quality for some of their high-risk or high-value contracts as a method to help in revealing valuation complications."

In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can 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 Sue E Moore, we're skilled in all forms of appraisal reviews, review practices and the obligations of review appraisers.