Quality Appraisal Reviews by Barnes Appraisal Company

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Barnes Appraisal Company provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "ought to conclude whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is collected guarantees independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for some of their higher-liability or larger-value dealings as a way to assist in uncovering valuation issues."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will 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 Barnes Appraisal Company, we're skilled in every type of appraisal review, review practice and the requirements of review appraisers.