Appraisal Reviews by Appraisal House, Inc.

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Appraisal House, Inc., we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value contracts as a way to assist in uncovering valuation problems."

In addition to coordinating our work to the regulations 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisal House, Inc., we're qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.