Expert Appraisal Reviews with CRANE REAL ESTATE APPRAISALS

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At CRANE REAL ESTATE APPRAISALS, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement routine reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value affairs as a means to aid in identifying valuation problems."

In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can 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. Here at CRANE REAL ESTATE APPRAISALS, we are qualified in every kind of appraisal review, review process and the requirements of review appraisers.