Expert Appraisal Reviews with Elite Appraisal Services

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Elite Appraisal Services, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.

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 process by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their higher-liability or large-value transactions as a way to assist in detecting valuation disputes."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll 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 Elite Appraisal Services, we are experienced in all kinds of appraisal reviews, review practices and the obligations of review appraisers.