Absolute Appraisals, IMI. Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews must "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules, look no further than Absolute Appraisals, IMI..

Appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must denote whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some banks augment periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value transactions as a means to help in addressing valuation dilemmas."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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 Absolute Appraisals, IMI., we're qualified in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.