Appraisal Reviews with R & R Real Estate Solutions

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations, contact R & R Real Estate Solutions.

According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also says that "some banks augment routine reviews with post-funding surveys of appraisal quality for any of their higher-liability or large-value contracts as a channel to assist in discovering valuation issues."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at R & R Real Estate Solutions, we're trained in all kinds of appraisal reviews, review processes and the requirements of review appraisers.