Quality Appraisal Reviews with Delk Appraisals

As said in a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Delk Appraisals, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks augment typical reviews with post-funding assessments of appraisal quality for any of their high-risk or greater-value transactions as a channel to aid in detecting valuation complications."

In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will formulate 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 Delk Appraisals, we are trained in every kind of appraisal review, review procedure and the requirements of review appraisers.