Qualified Appraisal Reviews with Irvine Appraising Company

According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Irvine Appraising Company, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's rules.

Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for any of their high-liability or large-value dealings as a control to aid in identifying valuation issues."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will 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 Irvine Appraising Company, we're trained in all kinds of appraisal reviews, review processes and the requirements of review appraisers.