Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews should "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Country First Appraisal, 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 decide whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some banks add regular reviews with post-funding evaluations of appraisal quality for any of their high-risk or large-value transactions as a means to aid in exposing valuation concerns."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll formulate 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 Country First Appraisal, we're qualified in every form of appraisal review, review procedure and the responsibilities of review appraisers.