Quality Appraisal Reviews by Hanna Appraisal Company

According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews are obligated to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Hanna Appraisal Company, we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality." They "must also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement routine reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value transactions as a means to aid in exposing valuation complications."

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 will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Hanna Appraisal Company, we're experienced in every form of appraisal review, review process and the responsibilities of review appraisers.