Appraisal Reviews with Intermountain Appraisals, Inc.

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines, look no further than Intermountain Appraisals, Inc..

Appraisal reviews "should decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for any of their high-risk or greater-value transactions as a means to help in exposing valuation problems."

In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Intermountain Appraisals, Inc., we are trained in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.