Expert Appraisal Reviews with Associated Appraisal Service

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At Associated Appraisal Service, we provide appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "ought to find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality." Moreover, they "must show whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve states that "some institutions add periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or large-value contracts as a means to aid in addressing valuation complications."

In addition to tailoring our work to the practices and guidelines of our review customers, 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. Here at Associated Appraisal Service, we are trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.