Appraisal Reviews by Caprock Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Caprock Appraisals provides appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's rules.

Appraisal reviews "should figure out whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. In addition, they "must demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their high-risk or larger-value contracts as a means to aid in addressing valuation disputes."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally 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 Caprock Appraisals, we are experienced in every kind of appraisal review, review process and the obligations of review appraisers.