Experienced Appraisal Reviews by Georgia Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Georgia Appraisals provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "ought to verify whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also says that "some institutions augment routine reviews with post-funding assessments of appraisal quality for some of their high-liability or greater-value affairs as a control to assist in addressing valuation issues."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Georgia Appraisals, we are qualified in every form of appraisal review, review procedure and the obligations of review appraisers.