Qualified Appraisal Reviews by Harper & Strickland, Inc.

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews should "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's rules, just contact Harper & Strickland, Inc..

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is collected guarantees independence and quality." They "should also announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or higher-value contracts as a way to assist in addressing valuation problems."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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 Harper & Strickland, Inc., we're qualified in every form of appraisal review, review procedure and the responsibilities of review appraisers.