Qualified Appraisal Reviews with Shannon Waters-Mitchell

According to a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules, just contact Shannon Waters-Mitchell.

As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or larger-value transactions as a control to assist in uncovering valuation disputes."

In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will 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 Shannon Waters-Mitchell, we're experienced in every form of appraisal review, review practice and the obligations of review appraisers.