Qualified Appraisal Reviews by Real Solutions

According to a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Real Solutions provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality." They "must also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some institutions add regular reviews with post-funding surveys of appraisal quality for any of their higher-risk or higher-value transactions as a way to aid in discovering valuation complications."

In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually 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 Real Solutions, we are trained in every type of appraisal review, review process and the responsibilities of review appraisers.