Quality Appraisal Reviews with Cannon Real Estate Appraisals

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Cannon Real Estate Appraisals provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is attained ensures independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or high-value dealings as a means to assist in revealing valuation issues."

In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll prepare 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 Cannon Real Estate Appraisals, we're skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.