Experienced Appraisal Reviews by Greater Houston Area Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At Greater Houston Area Appraisals, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "ought to find out whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality." In addition, they "must announce whether the appraisal or evaluation report matches the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for any of their high-risk or large-value contracts as a channel to assist in identifying valuation problems."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely 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. At Greater Houston Area Appraisals, we are qualified in all forms of appraisal reviews, review procedures and the requirements of review appraisers.