Appraisal Reviews with CMRE Appraisals Inc.

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews are obligated to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." CMRE Appraisals Inc. provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement typical reviews with post-funding assessments of appraisal quality for a number of their high-risk or higher-value transactions as a control to help in identifying valuation disputes."

In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll 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 CMRE Appraisals Inc., we're trained in all types of appraisal reviews, review processes and the responsibilities of review appraisers.