Expert Appraisal Reviews with Appraisal by Andrea Abbott

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews have to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Appraisal by Andrea Abbott provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or larger-value contracts as a channel to aid in addressing valuation issues."

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisal by Andrea Abbott, we're trained in every type of appraisal review, review practice and the responsibilities of review appraisers.