Experienced Appraisal Reviews with W. Brad Hollis Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." W. Brad Hollis Appraisals provides appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "ought to find out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for any of their higher-liability or large-value dealings as a method to help in addressing valuation concerns."

In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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. Here at W. Brad Hollis Appraisals, we are skilled in all forms of appraisal reviews, review processes and the obligations of review appraisers.