Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews ought to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Cornerstone Appraisal provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules.

If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.

As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is obtained ensures independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for some of their higher-risk or higher-value transactions as a means to aid in identifying valuation dilemmas."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Cornerstone Appraisal, we are qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.

Cornerstone Appraisal knows what the most prevalent weaknesses are, especially in our home market, as well as what amounts to a quality appraisal. We're also amply experienced to realize that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Cornerstone Appraisal to fairly valuate appraisal reports carried out by others. And those others might be examining our work, too!

Here at Cornerstone Appraisal, you can count on our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered.