Quality Appraisal Reviews by Solidrock Appraisal

According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Solidrock Appraisal, we provide appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or larger-value affairs as a method to assist in uncovering valuation concerns."

In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll formulate 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 Solidrock Appraisal, we are trained in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.