Quality Appraisal Reviews with The Fourman Group

As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." The Fourman Group provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some institutions augment regular reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value transactions as a way to help in identifying valuation issues."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can 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 The Fourman Group, we're trained in all types of appraisal reviews, review procedures and the obligations of review appraisers.