Edge Appraisal Services Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Edge Appraisal Services, we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or higher-value transactions as a control to assist in detecting valuation issues."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Edge Appraisal Services, we're experienced in every kind of appraisal review, review procedure and the requirements of review appraisers.