Appraisal Reviews with John McCarty

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." John McCarty provides appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.

Appraisal reviews "ought to figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks augment regular reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value dealings as a means to help in identifying valuation concerns."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can prepare 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 John McCarty, we're skilled in every type of appraisal review, review procedure and the obligations of review appraisers.