Experienced Appraisal Reviews by RWA Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at RWA Appraisals, we provide appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. Moreover, they "must indicate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce typical reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value transactions as a method to assist in discovering valuation dilemmas."

In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At RWA Appraisals, we are trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.