Anderson Appraisal, LLC Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews should "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Anderson Appraisal, LLC provides appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "should figure out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. Moreover, they "must demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce regular reviews with post-funding assessments of appraisal quality for a few of their higher-risk or higher-value contracts as a control to aid in uncovering valuation disputes."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Anderson Appraisal, LLC, we are trained in every kind of appraisal review, review process and the obligations of review appraisers.