A.M. Appraisals Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." A.M. Appraisals provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or greater-value contracts as a way to assist in discovering valuation issues."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll 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 A.M. Appraisals, we're qualified in every kind of appraisal review, review practice and the responsibilities of review appraisers.