Experienced Appraisal Reviews by Clay Allen Appraisal Service

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At Clay Allen Appraisal Service, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "must conclude whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must show whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for any of their high-risk or greater-value contracts as a control to aid in uncovering valuation problems."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will develop 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 Clay Allen Appraisal Service, we're experienced in every kind of appraisal review, review practice and the requirements of review appraisers.