Appraisal Reviews by Childress and Associates

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 completing reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Childress and Associates provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.

Appraisal reviews "must find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. Moreover, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment typical reviews with post-funding surveys of appraisal quality for some of their higher-liability or higher-value dealings as a channel to aid in identifying valuation problems."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll prepare 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 Childress and Associates, we're skilled in every type of appraisal review, review practice and the obligations of review appraisers.