Appraisal Reviews by Hise Appraisal Service

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, look no further than Hise Appraisal Service.

Appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "should also show whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their higher-risk or high-value transactions as a way to help in detecting valuation dilemmas."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Hise Appraisal Service, we're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.