Qualified Appraisal Reviews by Mission Peak Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Mission Peak Appraisals , we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." They "must also denote 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 notes that "some banks add periodic reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value contracts as a channel to help in uncovering valuation disputes."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll formulate 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 Mission Peak Appraisals , we're experienced in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.