Quality Appraisal Reviews with Across Texas Appraisals

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Across Texas Appraisals provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is collected guarantees independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement routine reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value affairs as a control to assist in identifying valuation disputes."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Across Texas Appraisals, we're skilled in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.