Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules, contact Ulrich Appraisals LLC.

Appraisal reviews "have to find out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. In addition, they "must signify whether the appraisal or evaluation report matches the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or higher-value affairs as a control to help in detecting valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically 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. Here at Ulrich Appraisals LLC, we're skilled in every form of appraisal review, review practice and the obligations of review appraisers.