Appraisal Reviews with Catawba Valley Appraisal

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Catawba Valley Appraisal provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or higher-value affairs as a channel to assist in uncovering valuation concerns."

In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely 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. Here at Catawba Valley Appraisal, we are qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.