Expert Appraisal Reviews by Connell Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's regulations, look no further than Connell Appraisals.

Appraisal reviews "have to find out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks reinforce periodic reviews with post-funding assessments of appraisal quality for a few of their high-risk or high-value dealings as a way to help in identifying valuation disputes."

In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will 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. At Connell Appraisals, we're experienced in all types of appraisal reviews, review procedures and the requirements of review appraisers.