Appraisal Reviews by Norman Appraisal Services

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews should "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules, look no further than Norman Appraisal Services.

According to the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality." They "should also denote whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for any of their higher-risk or high-value contracts as a way to aid in addressing valuation disputes."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally 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 Norman Appraisal Services, we're qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.