Appraisal Nerd Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." At Appraisal Nerd, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is attained guarantees independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks add routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or high-value contracts as a control to help in identifying valuation disputes."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can produce 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 Appraisal Nerd, we are skilled in all forms of appraisal reviews, review practices and the obligations of review appraisers.