Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." UC Appraisals (435) 896-7292 provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is collected guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or greater-value transactions as a method to aid in exposing valuation complications."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. At UC Appraisals (435) 896-7292, we're experienced in every type of appraisal review, review practice and the responsibilities of review appraisers.