Qualified Appraisal Reviews by C L Harper & Associates

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At C L Harper & Associates, we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "must decide whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also denote whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for a few of their high-liability or higher-value contracts as a control to help in revealing valuation concerns."

In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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 C L Harper & Associates, we are experienced in all kinds of appraisal reviews, review processes and the obligations of review appraisers.