Areas of Expertise
Field & Desk Review Appraisals
& Full, Second-Opinion Appraisals
The Federal Reserve has reiterated that "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines."
At FAST Appraisals, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.
Appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter which sets forth the scope of the appraisal assignment." The Federal Reserve also notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services and we prepare appraisal reviews on all of them. They include desk and field reviews, as well as short and narrative forms. FAST Appraisals is experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
We understand what makes a quality appraisal and the most common deficiencies. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports so you can count on us to ethically evaluate all appraisal reports.
You can rely on our independent judgment because we offer professional, objective, ethical appraisal review services.