Appraisal Reviews with Gene McBride Appraisal Service

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 fulfilling reviews must "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Gene McBride Appraisal Service provides appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "have to figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. Moreover, they "must indicate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value transactions as a way to help in uncovering valuation complications."

In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Gene McBride Appraisal Service, we are experienced in all forms of appraisal reviews, review procedures and the requirements of review appraisers.