Qualified Appraisal Reviews by AAA-Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." AAA-Appraisals provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should show whether the appraisal or evaluation report is compatible with the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for a number of their high-liability or high-value transactions as a channel to assist in revealing valuation disputes."

In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will 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. Here at AAA-Appraisals, we're trained in every type of appraisal review, review practice and the responsibilities of review appraisers.