Qualified Appraisal Reviews with Stacey L Shanks

As said in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers fulfilling reviews must "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Stacey L Shanks provides appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "ought to decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for some of their high-liability or higher-value transactions as a control to aid in identifying valuation concerns."

In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Stacey L Shanks, we're qualified in every type of appraisal review, review practice and the responsibilities of review appraisers.