Qualified Appraisal Reviews by Pioneer DFW Realty

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Pioneer DFW Realty provides appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is collected guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is true to the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value transactions as a means to assist in uncovering valuation problems."

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Pioneer DFW Realty, we're trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.