Qualified Appraisal Reviews by ATX Appraisals

According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At ATX Appraisals, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's regulations.

According to the Federal Reserve, appraisal reviews "should find out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve notes that "some institutions augment periodic reviews with post-funding surveys of appraisal quality for some of their high-risk or large-value contracts as a means to assist in exposing valuation concerns."

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll 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 ATX Appraisals, we're trained in all kinds of appraisal reviews, review practices and the requirements of review appraisers.