Expert Appraisal Reviews with Doug Rives

As said in a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Doug Rives, we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's guidelines.

Appraisal reviews "should find out whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. Moreover, they "should denote whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some institutions add periodic reviews with post-funding evaluations of appraisal quality for some of their high-liability or large-value contracts as a control to assist in revealing valuation problems."

In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally 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 Doug Rives, we are skilled in all types of appraisal reviews, review processes and the responsibilities of review appraisers.