Appraisal Reviews by Crowe Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Crowe Appraisals provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is attained guarantees independence and quality." Moreover, they "must announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve notes that "some banks add typical reviews with post-funding assessments of appraisal quality for some of their high-liability or larger-value contracts as a method to help in uncovering valuation complications."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Crowe Appraisals, we are skilled in every type of appraisal review, review procedure and the requirements of review appraisers.