Appraisal Quest Co. (805) 469-3088 Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews ought to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Appraisal Quest Co. (805) 469-3088 provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "should verify whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. They "should also denote whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or large-value dealings as a means to assist in exposing valuation dilemmas."

In addition to tailoring 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 can 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 Appraisal Quest Co. (805) 469-3088, we are experienced in every kind of appraisal review, review process and the obligations of review appraisers.