Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews are obligated to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Oasis Appraisals, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or larger-value dealings as a means to assist in discovering valuation problems."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can develop 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 Oasis Appraisals, we're trained in every kind of appraisal review, review practice and the obligations of review appraisers.