Appraisal Reviews by RWA Appraisals

As said in a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." RWA Appraisals provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is attained guarantees independence and quality." Moreover, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also states that "some financial institutions add routine reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value contracts as a channel to assist in revealing valuation disputes."

In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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 RWA Appraisals, we are trained in all forms of appraisal reviews, review practices and the obligations of review appraisers.