Appraisal Reviews with Pritchard Appraisal Services

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines, just contact Pritchard Appraisal Services.

As stated by the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the practices 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 gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions add regular reviews with post-funding evaluations of appraisal quality for a number of their high-risk or large-value transactions as a control to assist in identifying valuation complications."

In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can produce 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 Pritchard Appraisal Services, we're skilled in all forms of appraisal reviews, review procedures and the requirements of review appraisers.