Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." PEGASUS APPRAISALS provides appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "have to figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. Moreover, they "must signify whether the appraisal or evaluation report is true to the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or larger-value dealings as a method to help in exposing valuation issues."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at PEGASUS APPRAISALS, we're qualified in every form of appraisal review, review procedure and the obligations of review appraisers.