Qualified Appraisal Reviews by Integrated Assets

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Integrated Assets provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's rules.

Appraisal reviews "ought to find out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions reinforce typical reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value dealings as a channel to aid in discovering valuation dilemmas."

In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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 Integrated Assets, we're skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.