Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Satchell Real Property Services provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is collected ensures independence and quality." In addition, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or greater-value affairs as a channel to aid in exposing valuation issues."

In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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. Here at Satchell Real Property Services, we are qualified in every type of appraisal review, review process and the responsibilities of review appraisers.