Appraisal Reviews with Qualls 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 completing reviews must "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations, look no further than Qualls Appraisals.

As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality." In addition, they "must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions augment regular reviews with post-funding surveys of appraisal quality for a number of their high-risk or higher-value dealings as a way to assist in identifying valuation dilemmas."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can 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. At Qualls Appraisals, we are experienced in every form of appraisal review, review process and the obligations of review appraisers.