Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Mowery Appraisal Svc, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules.

Appraisal reviews "ought to decide whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. Moreover, they "must demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for any of their high-liability or high-value contracts as a method to assist in uncovering valuation concerns."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Mowery Appraisal Svc, we're skilled in all kinds of appraisal reviews, review practices and the requirements of review appraisers.