Appraisal Reviews with Integrated Assets

According to a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Integrated Assets, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "have to find out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-liability or larger-value contracts as a channel to assist in detecting valuation problems."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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 Integrated Assets, we are experienced in every form of appraisal review, review process and the responsibilities of review appraisers.