Appraisal Reviews by Rose City Appraisal

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules, just contact Rose City Appraisal.

Appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. In addition, they "must show whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for some of their high-risk or greater-value affairs as a control to help in exposing valuation disputes."

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll 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 Rose City Appraisal, we are qualified in all types of appraisal reviews, review processes and the requirements of review appraisers.