Appraisal Reviews by Greater Houston Area Appraisals

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." At Greater Houston Area Appraisals, we provide appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "should signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve says that "some institutions augment periodic reviews with post-funding surveys of appraisal quality for any of their higher-risk or greater-value transactions as a control to help in revealing valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Greater Houston Area Appraisals, we are qualified in every kind of appraisal review, review procedure and the requirements of review appraisers.