Appraisal Reviews by Buie Appraisal Service

As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines, just contact Buie Appraisal Service.

As stated by the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is obtained ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for any of their high-risk or larger-value transactions as a means to assist in uncovering valuation disputes."

In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Buie Appraisal Service, we are qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.