Quality Appraisal Reviews by Perry Appraisals

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Perry Appraisals, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality." They "must also indicate whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment regular reviews with post-funding surveys of appraisal quality for a few of their higher-liability or higher-value transactions as a way to assist in discovering valuation dilemmas."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Perry Appraisals, we're skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.