Qualified Appraisal Reviews by DRM Appraisals

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At DRM Appraisals, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines.

According to the Federal Reserve, appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for a few of their high-liability or larger-value dealings as a channel to assist in identifying valuation concerns."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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 DRM Appraisals, we're qualified in every form of appraisal review, review practice and the responsibilities of review appraisers.