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

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Appraisal Quest Co. (805) 469-3088, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "should find out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "should also announce whether the appraisal or evaluation report is even with the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a few of their high-risk or greater-value affairs as a channel to aid in uncovering valuation complications."

In addition to tailoring 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 will produce 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 qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.