Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations, just contact Fitzgerald Estates Inc..

According to the Federal Reserve, appraisal reviews "ought to conclude 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 acquired ensures independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some banks add routine reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value affairs as a way to help in detecting valuation complications."

In addition to adjusting 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 will 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 Fitzgerald Estates Inc., we are trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.