Expert Appraisal Reviews with Greater Houston Area Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations, just contact Greater Houston Area Appraisals.

The Federal Reserve says appraisal reviews "must conclude whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value contracts as a channel to aid in exposing valuation complications."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will produce 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 Greater Houston Area Appraisals, we are qualified in every form of appraisal review, review practice and the responsibilities of review appraisers.