Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews must "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Real Property Metrics provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "ought to decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must indicate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a method to assist in revealing valuation dilemmas."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can 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 Real Property Metrics, we're experienced in every type of appraisal review, review procedure and the obligations of review appraisers.