Expert Appraisal Reviews with Asset Real Estate Services

According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Asset Real Estate Services provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's regulations.

Appraisal reviews "must figure out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is compatible with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment typical reviews with post-funding evaluations of appraisal quality for any of their high-risk or larger-value contracts as a control to help in exposing valuation disputes."

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 can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Asset Real Estate Services, we're experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.