Qualified Appraisal Reviews by Crowe Appraisals

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's guidelines, contact Crowe Appraisals.

Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. In addition, they "should announce whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value affairs as a channel to aid in identifying valuation issues."

In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll prepare 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 experienced in all types of appraisal reviews, review processes and the responsibilities of review appraisers.