Quality Appraisal Reviews by Janet Barker

According to a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Janet Barker provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality." They "must also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce regular reviews with post-funding assessments of appraisal quality for a few of their higher-risk or high-value contracts as a means to aid in addressing valuation problems."

In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Janet Barker, we're trained in all kinds of appraisal reviews, review practices and the obligations of review appraisers.