Experienced Appraisal Reviews with Hometown Appraisals & Realty

According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations, just contact Hometown Appraisals & Realty.

Appraisal reviews "have to verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. In addition, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for any of their high-liability or larger-value contracts as a means to aid in revealing valuation dilemmas."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll 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 Hometown Appraisals & Realty, we're skilled in every form of appraisal review, review practice and the requirements of review appraisers.