Qualified Appraisal Reviews with Crowe Appraisals

According to an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Crowe Appraisals, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment routine reviews with post-funding assessments of appraisal quality for any of their high-risk or greater-value transactions as a way to aid in uncovering valuation concerns."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will produce 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 Crowe Appraisals, we are trained in every form of appraisal review, review procedure and the requirements of review appraisers.