Quality Appraisal Reviews with REW Appraisals LLC

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 have to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At REW Appraisals LLC, we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's rules.

Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "should also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement typical reviews with post-funding evaluations of appraisal quality for any of their higher-risk or greater-value transactions as a means to help in identifying valuation complications."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 REW Appraisals LLC, we are qualified in all types of appraisal reviews, review procedures and the requirements of review appraisers.