Qualified Appraisal Reviews with Stanfield & Assoc

As said in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Stanfield & Assoc, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "should find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. Moreover, they "must denote whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some banks augment regular reviews with post-funding surveys of appraisal quality for any of their higher-liability or high-value contracts as a means to help in detecting valuation issues."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Stanfield & Assoc, we're experienced in every kind of appraisal review, review practice and the requirements of review appraisers.