Appraisal Reviews by Daily Appraisal

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Daily Appraisal, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also notes that "some institutions add routine reviews with post-funding surveys of appraisal quality for any of their high-risk or higher-value transactions as a means to help in detecting 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 mostly used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Daily Appraisal, we are qualified in all types of appraisal reviews, review processes and the obligations of review appraisers.