Quality Appraisal Reviews by Cedar Elm Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's guidelines, contact Cedar Elm Appraisals .

As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some institutions add typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or larger-value dealings as a method to aid in identifying 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 mostly used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Cedar Elm Appraisals , we're experienced in every form of appraisal review, review process and the responsibilities of review appraisers.