Experienced Appraisal Reviews with Bowen Agency Realtors

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines, contact Bowen Agency Realtors.

Appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment typical reviews with post-funding surveys of appraisal quality for a number of their higher-risk or greater-value contracts as a way to assist in revealing valuation problems."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll prepare 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 Bowen Agency Realtors, we are trained in every type of appraisal review, review procedure and the requirements of review appraisers.