Expert Appraisal Reviews with Harper & Strickland, Inc.

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's regulations, contact Harper & Strickland, Inc..

As stated by the Federal Reserve, appraisal reviews "ought to decide 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 obtained guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or larger-value transactions as a method to assist in identifying valuation disputes."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will prepare 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 Harper & Strickland, Inc., we are skilled in every kind of appraisal review, review process and the responsibilities of review appraisers.