ASAP Appraisal Group Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." ASAP Appraisal Group provides appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality." They "must also show whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions augment routine reviews with post-funding surveys of appraisal quality for a few of their high-liability or larger-value transactions as a means to help in revealing valuation issues."

In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At ASAP Appraisal Group, we're trained in all kinds of appraisal reviews, review processes and the requirements of review appraisers.