Quality Appraisal Reviews with Crispell Associates

As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Crispell Associates, we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for any of their higher-risk or greater-value contracts as a method to aid in addressing valuation concerns."

In addition to coordinating 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'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Crispell Associates, we are experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.