Appraisal Reviews with Professional Property Appraisals & Consulting

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers fulfilling reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Professional Property Appraisals & Consulting provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also says that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value contracts as a way to help in detecting valuation disputes."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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. At Professional Property Appraisals & Consulting, we're trained in every kind of appraisal review, review procedure and the responsibilities of review appraisers.