Experienced Appraisal Reviews with Peterson Appraisal Group

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Peterson Appraisal Group provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules.

Appraisal reviews "have to find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is collected guarantees independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value affairs as a channel to help in exposing valuation complications."

In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll 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 Peterson Appraisal Group, we are skilled in every type of appraisal review, review process and the requirements of review appraisers.