Qualified Appraisal Reviews by FARWIG APPRAISAL SERVICES

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations, look no further than FARWIG APPRAISAL SERVICES.

Appraisal reviews "should verify whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some banks augment regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or larger-value affairs as a way to assist in uncovering valuation problems."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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 FARWIG APPRAISAL SERVICES, we are trained in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.