Quality Appraisal Reviews by All City Appraisal

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At All City Appraisal, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is even with the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value contracts as a control to help in revealing valuation disputes."

In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can 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 All City Appraisal, we are skilled in all kinds of appraisal reviews, review practices and the obligations of review appraisers.