Appraisal Reviews with RWA Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews should "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at RWA Appraisals, we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "must figure out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce typical reviews with post-funding evaluations of appraisal quality for any of their high-liability or greater-value transactions as a way to aid in uncovering valuation problems."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 RWA Appraisals, we're trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.