Expert Appraisal Reviews by Deer Creek Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Deer Creek Appraisals, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "ought to determine whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for some of their higher-risk or large-value dealings as a control to help in addressing valuation problems."

In addition to conforming 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 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. At Deer Creek Appraisals, we're trained in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.