Qualified Appraisal Reviews with ASAP Appraisal Group

As said in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." ASAP Appraisal Group provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "must decide whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a method to help in identifying valuation disputes."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 ASAP Appraisal Group, we're experienced in every kind of appraisal review, review practice and the obligations of review appraisers.