Appraisal Reviews with R Rick Goodwin

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's regulations, just contact R Rick Goodwin.

The Federal Reserve says appraisal reviews "ought to determine whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for some of their higher-liability or greater-value dealings as a method to assist in exposing valuation dilemmas."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll 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. Here at R Rick Goodwin, we're skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.