Qualified Appraisal Reviews with Empire Appraisals Inc

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Empire Appraisals Inc provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. They "should also announce whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve states that "some institutions add regular reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value transactions as a channel to assist in addressing valuation concerns."

In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will produce 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 Empire Appraisals Inc, we are qualified in every kind of appraisal review, review process and the requirements of review appraisers.