Quality Appraisal Reviews with Monte French

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, expert, professional and square with the Federal Reserve's rules, contact Monte French.

The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is acquired guarantees independence and quality." They "should also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or greater-value affairs as a way to aid in revealing valuation dilemmas."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely 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 Monte French, we're qualified in every kind of appraisal review, review process and the requirements of review appraisers.