Appraisal Reviews by Apogee Valuation Services

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews should "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At Apogee Valuation Services, we provide appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's guidelines.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment regular reviews with post-funding surveys of appraisal quality for some of their high-liability or higher-value affairs as a channel to aid in uncovering valuation complications."

In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can 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. Here at Apogee Valuation Services, we're qualified in every kind of appraisal review, review practice and the obligations of review appraisers.