Experienced Appraisal Reviews by First American National Bank

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations, contact First American National Bank.

Appraisal reviews "ought to conclude whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "should also show whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or high-value contracts as a channel to help in addressing valuation concerns."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At First American National Bank, we are experienced in every kind of appraisal review, review process and the requirements of review appraisers.