Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Treasure Coast Appraisals provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules.

Appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report matches the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value transactions as a method to help in discovering valuation disputes."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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. Here at Treasure Coast Appraisals, we're skilled in every type of appraisal review, review procedure and the obligations of review appraisers.