Qualified Appraisal Reviews with NC Appraisal Center

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." NC Appraisal Center provides appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations.

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is collected guarantees independence and quality." In addition, they "must signify whether the appraisal or evaluation report is consistent with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement typical reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or greater-value transactions as a channel to assist in detecting valuation complications."

In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll formulate 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 NC Appraisal Center, we are qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.