Quality Appraisal Reviews with All Brevard Certified Appraisals

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." All Brevard Certified Appraisals provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. Moreover, they "must indicate whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment typical reviews with post-funding assessments of appraisal quality for a number of their higher-risk or greater-value dealings as a channel to help in detecting valuation problems."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually 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 All Brevard Certified Appraisals, we are trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.