Appraisal Reviews with King Real Estate Services Inc.

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." At King Real Estate Services Inc., we provide appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions augment regular reviews with post-funding assessments of appraisal quality for a few of their high-liability or large-value contracts as a way to aid in uncovering valuation issues."

In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can prepare 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 King Real Estate Services Inc., we're skilled in all types of appraisal reviews, review practices and the responsibilities of review appraisers.