Crest Appraisal Services Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews ought to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Crest Appraisal Services, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is obtained ensures independence and quality." They "must also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add routine reviews with post-funding assessments of appraisal quality for any of their higher-liability or larger-value dealings as a way to help in uncovering valuation issues."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll produce 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 Crest Appraisal Services, we're experienced in every form of appraisal review, review process and the obligations of review appraisers.