Expert Appraisal Reviews with Skinner appraisal

According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Skinner appraisal provides appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is collected guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement typical reviews with post-funding surveys of appraisal quality for a number of their high-liability or higher-value contracts as a way to help in detecting valuation concerns."

In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. Here at Skinner appraisal, we're experienced in all types of appraisal reviews, review practices and the requirements of review appraisers.