Quality Appraisal Reviews with Crawford Romans Appraisal Services

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Crawford Romans Appraisal Services, we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "have to verify whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is even with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value dealings as a way to help in addressing valuation dilemmas."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 Crawford Romans Appraisal Services, we're experienced in every form of appraisal review, review process and the obligations of review appraisers.