Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Keene Appraisals LLC provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is collected guarantees independence and quality." In addition, they "must announce whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or higher-value transactions as a channel to aid in detecting valuation problems."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll prepare 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 Keene Appraisals LLC, we're trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.