Experienced Appraisal Reviews by Simpli Real Estate

According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules, contact Simpli Real Estate.

Appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. In addition, they "should indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for a number of their high-liability or large-value dealings as a channel to aid in identifying valuation problems."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Simpli Real Estate, we're experienced in every kind of appraisal review, review practice and the responsibilities of review appraisers.