Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews must "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Gilbert Appraisal, we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some banks augment routine reviews with post-funding evaluations of appraisal quality for a number of their high-liability or greater-value affairs as a channel to help in addressing valuation disputes."

In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can prepare 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 Gilbert Appraisal, we are experienced in every form of appraisal review, review process and the requirements of review appraisers.