Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." High Country Appraisal Services provides appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality." They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also says that "some financial institutions reinforce regular reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to help in discovering valuation concerns."

In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can prepare 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 High Country Appraisal Services, we're trained in all forms of appraisal reviews, review practices and the obligations of review appraisers.