Appraisal Reviews with Anchor Appraisals Inc

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Anchor Appraisals Inc provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.

Appraisal reviews "ought to determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or large-value transactions as a way to aid in identifying valuation problems."

In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally 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 Anchor Appraisals Inc, we're qualified in every type of appraisal review, review process and the obligations of review appraisers.