Quality Appraisal Reviews with Joe Wright Appraisals

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules, just contact Joe Wright Appraisals.

According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is true to the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value contracts as a means to assist in addressing valuation issues."

In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll develop 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 Joe Wright Appraisals, we're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.