Appraisal Reviews by Firebird Appraisal & Consulting

As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's guidelines, look no further than Firebird Appraisal & Consulting.

According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or greater-value transactions as a means to aid in discovering valuation complications."

In addition to conforming 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'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Firebird Appraisal & Consulting, we're trained in every kind of appraisal review, review procedure and the obligations of review appraisers.