According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Fruitticher-Lowery Appraisal Group, we provide appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Fruitticher-Lowery Appraisal Group today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction and whether the practices by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also notes that "some institutions augment regular reviews with post-funding evaluations of appraisal quality for some of their higher-liability or greater-value transactions as a way to help in discovering valuation disputes."
In addition to adjusting 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'll prepare an appraisal review on any of them.
They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Fruitticher-Lowery Appraisal Group, we are trained in every type of appraisal review, review process and the obligations of review appraisers.
You can trust Fruitticher-Lowery Appraisal Group for our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers.