Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews ought to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Christian Santana, we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "have to conclude whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also states that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value dealings as a way to help in addressing valuation concerns."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate 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 Christian Santana, we're qualified in every form of appraisal review, review process and the responsibilities of review appraisers.