Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Rahn Appraisals provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "have to find out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. They "should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their high-risk or high-value dealings as a method to help in identifying valuation problems."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically 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 Rahn Appraisals, we are skilled in all kinds of appraisal reviews, review practices and the obligations of review appraisers.