Qualified Appraisal Reviews with Point Appraisal Company

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Point Appraisal Company provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "must figure out whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or greater-value contracts as a way to assist in identifying valuation complications."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Point Appraisal Company, we are qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.