Appraisal Reviews by Treasure Coast Appraisals

According to an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules, contact Treasure Coast Appraisals.

According to the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value dealings as a way to assist in identifying valuation disputes."

In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will formulate 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 Treasure Coast Appraisals, we are trained in all types of appraisal reviews, review processes and the obligations of review appraisers.