Experienced Appraisal Reviews by Edwards Appraisal Service LLC

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Edwards Appraisal Service LLC provides appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "have to determine whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also says that "some banks augment regular reviews with post-funding evaluations of appraisal quality for some of their higher-risk or higher-value contracts as a way to aid in revealing valuation complications."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Edwards Appraisal Service LLC, we are experienced in all types of appraisal reviews, review practices and the obligations of review appraisers.