Quality Appraisal Reviews with Allatoona Appraisal

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines, contact Allatoona Appraisal.

Appraisal reviews "have to find out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. Moreover, they "should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce typical reviews with post-funding evaluations of appraisal quality for a few of their high-risk or higher-value affairs as a way to assist in identifying valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can formulate 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 Allatoona Appraisal, we are qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.