Stephens Appraisals of Central Florida Appraisal Reviews

As said in a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Stephens Appraisals of Central Florida, we provide appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a control to help in detecting valuation concerns."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will develop 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 Stephens Appraisals of Central Florida, we're trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.