Appraisal Reviews with Zack Grassley

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews are obligated to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Zack Grassley provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.

Appraisal reviews "should verify whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions add routine reviews with post-funding assessments of appraisal quality for a few of their higher-liability or greater-value contracts as a means to help in addressing valuation concerns."

In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will 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 Zack Grassley, we're qualified in all types of appraisal reviews, review processes and the requirements of review appraisers.