Appraisal Reviews by Wise Appraisal Services

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules, contact Wise Appraisal Services.

Appraisal reviews "ought to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve says that "some institutions augment typical reviews with post-funding surveys of appraisal quality for a number of their high-liability or high-value affairs as a means to assist in revealing valuation disputes."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can 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 Wise Appraisal Services, we are qualified in every form of appraisal review, review procedure and the requirements of review appraisers.