Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews should "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines, just contact Alford & Associates.

The Federal Reserve says appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some institutions add routine reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value transactions as a means to aid in uncovering valuation problems."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will formulate 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 Alford & Associates, we're skilled in every kind of appraisal review, review procedure and the requirements of review appraisers.