Experienced Appraisal Reviews by Ric Haskew

According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews have to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, qualified, professional and square with the Federal Reserve's guidelines, just contact Ric Haskew.

The Federal Reserve says appraisal reviews "should figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality." They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks augment periodic reviews with post-funding surveys of appraisal quality for any of their high-liability or large-value affairs as a control to help in detecting valuation issues."

In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can formulate 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 Ric Haskew, we are skilled in every form of appraisal review, review process and the obligations of review appraisers.