Appraisal Reviews with Austin Metropolitan Appraisal Group, Inc.

According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Austin Metropolitan Appraisal Group, Inc. provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is obtained ensures 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 sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks supplement typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or large-value contracts as a means to assist in discovering valuation disputes."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Austin Metropolitan Appraisal Group, Inc., we are experienced in every form of appraisal review, review practice and the requirements of review appraisers.