Appraisal Reviews

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Deer Creek Appraisals provides appraisal review services that are objective, expert, professional and square with the Federal Reserve's guidelines.

If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.

The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality." In addition, they "must signify whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for a number of their high-risk or high-value contracts as a channel to help in detecting valuation problems."

In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Deer Creek Appraisals, we are skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.

Deer Creek Appraisals understands what the most common deficiencies are, particularly in our housing market, as well as what makes a quality appraisal. In the same sense, we are sufficiently experienced to distinguish that our competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Deer Creek Appraisals to fairly study appraisal reports performed by others. And those others might be studying our work, too!

You can trust Deer Creek Appraisals for our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.