Experienced Appraisal Reviews with Greater Houston Area Appraisals

According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Greater Houston Area Appraisals, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "must figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is obtained ensures independence and quality." In addition, they "must signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also notes that "some institutions add regular reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value affairs as a means to assist in revealing valuation issues."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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 Greater Houston Area Appraisals, we're trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.