Appraisal Reviews by All City Appraisal

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews should "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." All City Appraisal provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "ought to decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add typical reviews with post-funding evaluations of appraisal quality for a number of their high-liability or greater-value transactions as a means to help in detecting valuation disputes."

In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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 All City Appraisal, we're experienced in every type of appraisal review, review practice and the responsibilities of review appraisers.