Expert Appraisal Reviews by People's Choice Appraisals

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews should "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines, look no further than People's Choice Appraisals.

According to the Federal Reserve, appraisal reviews "have to find out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality." They "should also show whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value dealings as a way to help in identifying valuation issues."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will 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 People's Choice Appraisals, we are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.