Qualified Appraisal Reviews by Crest Appraisal Services

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Crest Appraisal Services, we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.

According to the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce routine reviews with post-funding surveys of appraisal quality for any of their higher-risk or higher-value affairs as a means to aid in revealing valuation disputes."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Crest Appraisal Services, we're skilled in every kind of appraisal review, review process and the obligations of review appraisers.