Wilson & Associates Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Wilson & Associates provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality." They "should also denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value affairs as a means to aid in detecting valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll formulate 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 Wilson & Associates, we're skilled in all kinds of appraisal reviews, review processes and the obligations of review appraisers.