Appraisal Reviews by Test4

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Test4, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules.

Appraisal reviews "have to verify whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report matches the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions add typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value transactions as a method to aid in addressing valuation issues."

In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will 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 Test4, we are trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.