Qualified Appraisal Reviews with Greater Orlando Appraisal Assoc., Inc.

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Greater Orlando Appraisal Assoc., Inc. provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations.

Appraisal reviews "ought to verify whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. In addition, they "should indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions augment typical reviews with post-funding surveys of appraisal quality for any of their high-liability or high-value affairs as a method to aid in discovering valuation dilemmas."

In addition to tailoring 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'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 Greater Orlando Appraisal Assoc., Inc., we are experienced in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.