Appraisal Reviews with Metro Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews must "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, qualified, professional and square with the Federal Reserve's regulations, look no further than Metro Appraisals.

Appraisal reviews "ought to determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. They "should also show whether the appraisal or evaluation report matches the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve states that "some institutions augment regular reviews with post-funding surveys of appraisal quality for a few of their high-risk or greater-value transactions as a means to assist in uncovering valuation problems."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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 Metro Appraisals, we are qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.