Appraisal Reviews by Coleman Appraisal Service

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's regulations, look no further than Coleman Appraisal Service.

Appraisal reviews "must determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce regular reviews with post-funding surveys of appraisal quality for any of their high-liability or greater-value dealings as a channel to aid in revealing valuation disputes."

In addition to adapting our work to the practices 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Coleman Appraisal Service, we are qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.