Chris Long Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Chris Long provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality." They "must also announce whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks reinforce regular reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value transactions as a way to assist in uncovering valuation issues."

In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will 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 Chris Long, we're qualified in every kind of appraisal review, review process and the obligations of review appraisers.