Qualified Appraisal Reviews with Shannon Waters-Mitchell

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules, just contact Shannon Waters-Mitchell.

Appraisal reviews "have to conclude whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. Moreover, they "should signify whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce periodic reviews with post-funding surveys of appraisal quality for any of their higher-liability or higher-value transactions as a means to help in revealing valuation complications."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely 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. At Shannon Waters-Mitchell, we are skilled in every kind of appraisal review, review practice and the requirements of review appraisers.