Appraisal Reviews with Deer Creek Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, just contact Deer Creek Appraisals.

As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add periodic reviews with post-funding evaluations of appraisal quality for a number of their high-liability or higher-value affairs as a way to assist in addressing valuation concerns."

In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll prepare 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 Deer Creek Appraisals, we're experienced in every type of appraisal review, review process and the requirements of review appraisers.