Appraisal Reviews by Morley & McConkie

As said in a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews must "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations, just contact Morley & McConkie.

Appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. Moreover, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or large-value transactions as a channel to assist in detecting valuation issues."

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'll 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 Morley & McConkie, we're trained in every type of appraisal review, review process and the obligations of review appraisers.