Quality Appraisal Reviews by Crimson Way Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines, contact Crimson Way Appraisals.

Appraisal reviews "must figure out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or larger-value transactions as a channel to help in exposing valuation disputes."

In addition to coordinating 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 prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Crimson Way Appraisals, we're skilled in all types of appraisal reviews, review procedures and the requirements of review appraisers.