Qualified Appraisal Reviews by David Owens Appraisal

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules, just contact David Owens Appraisal.

Appraisal reviews "should decide whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "must also denote whether the appraisal or evaluation report matches the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value transactions as a channel to assist in discovering valuation complications."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At David Owens Appraisal, we are qualified in every kind of appraisal review, review procedure and the responsibilities of review appraisers.