Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Eden Appraisal, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "must also denote whether the appraisal or evaluation report matches the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or larger-value affairs as a channel to aid in identifying valuation concerns."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will produce 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 Eden Appraisal, we're qualified in all forms of appraisal reviews, review procedures and the requirements of review appraisers.