Experienced Appraisal Reviews by North East Appraisal, Inc

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews have to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's guidelines, contact North East Appraisal, Inc.

The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." They "should also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or high-value affairs as a way to aid in addressing valuation problems."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally 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. At North East Appraisal, Inc, we're skilled in all types of appraisal reviews, review procedures and the requirements of review appraisers.