James Earp Appraisal Service Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at James Earp Appraisal Service, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's regulations.

According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality." They "must also demonstrate 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 states that "some banks add routine reviews with post-funding evaluations of appraisal quality for any of their high-liability or high-value transactions as a method to aid in discovering valuation complications."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can develop 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 James Earp Appraisal Service, we're experienced in all types of appraisal reviews, review processes and the responsibilities of review appraisers.