Appraisal Reviews with Anderson Appraisal, LLC

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Anderson Appraisal, LLC provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.

Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. Moreover, they "should denote whether the appraisal or evaluation report is true to the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value dealings as a control to aid in uncovering valuation concerns."

In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Anderson Appraisal, LLC, we're skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.