Harper & Strickland, Inc. Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews should "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Harper & Strickland, Inc. provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality." They "must also announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for a few of their high-liability or higher-value affairs as a way to aid in revealing valuation complications."

In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally 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. Here at Harper & Strickland, Inc., we're qualified in every form of appraisal review, review procedure and the requirements of review appraisers.