Appraisal Reviews by Bullard Appraisals, Inc.

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers fulfilling reviews should "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Bullard Appraisals, Inc., we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's regulations.

Appraisal reviews "should find out whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is attained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for some of their higher-liability or greater-value dealings as a channel to help in addressing valuation disputes."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate 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 Bullard Appraisals, Inc., we are skilled in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.