Quality Appraisal Reviews with Harper & Strickland, Inc.

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations, just contact Harper & Strickland, Inc..

According to the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality." They "must also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve says that "some institutions add typical reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value contracts as a control to aid in identifying valuation dilemmas."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Harper & Strickland, Inc., we are qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.