Lisa Davis Appraisals Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's rules, contact Lisa Davis Appraisals.

Appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for any of their high-risk or higher-value affairs as a means to assist in addressing valuation complications."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Lisa Davis Appraisals, we're qualified in every type of appraisal review, review process and the responsibilities of review appraisers.