Appraisal Reviews with Greater Houston Area Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules, contact Greater Houston Area Appraisals.

The Federal Reserve says appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement regular reviews with post-funding surveys of appraisal quality for a few of their high-liability or higher-value contracts as a way to assist in exposing valuation problems."

In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can produce 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 Greater Houston Area Appraisals, we're experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.