Weaver Appraisal Group Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Weaver Appraisal Group, we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules.

Appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. Moreover, they "should signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce routine reviews with post-funding assessments of appraisal quality for a number of their higher-risk or greater-value contracts as a method to aid in uncovering valuation concerns."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can produce 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 Weaver Appraisal Group, we are qualified in all forms of appraisal reviews, review practices and the obligations of review appraisers.