Appraisal Reviews by Associated Appraisal Services

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Associated Appraisal Services, we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "ought to find out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce regular reviews with post-funding surveys of appraisal quality for some of their higher-risk or large-value contracts as a means to assist in detecting valuation concerns."

In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can develop 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 Associated Appraisal Services, we are qualified in every kind of appraisal review, review process and the requirements of review appraisers.