Expert Appraisal Reviews by Barnes Appraisal Company

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews have to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Barnes Appraisal Company, we provide appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "should verify whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value contracts as a way to aid in revealing valuation dilemmas."

In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will prepare 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 Barnes Appraisal Company, we are trained in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.