Quality Appraisal Reviews with R & R Real Estate Solutions

According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." R & R Real Estate Solutions provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality." They "must also indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment regular reviews with post-funding surveys of appraisal quality for any of their high-liability or greater-value affairs as a control to assist in addressing valuation complications."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll formulate 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 R & R Real Estate Solutions, we are trained in every form of appraisal review, review procedure and the obligations of review appraisers.