Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers completing reviews must "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations, just contact Maria Hopkins Associates.

Appraisal reviews "should find out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. They "should also denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or high-value affairs as a control to aid in identifying valuation concerns."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will develop 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 Maria Hopkins Associates, we are skilled in every form of appraisal review, review process and the obligations of review appraisers.