Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews ought to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Metric Appraisals, LLC provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.

Appraisal reviews "must determine whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions augment periodic reviews with post-funding surveys of appraisal quality for any of their higher-liability or higher-value transactions as a method to help in uncovering valuation problems."

In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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 Metric Appraisals, LLC, we are qualified in all kinds of appraisal reviews, review practices and the obligations of review appraisers.