Quality Appraisal Reviews by D. Michael Rogers

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at D. Michael Rogers, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." Moreover, they "should signify whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value affairs as a way to aid in exposing valuation issues."

In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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 D. Michael Rogers, we're skilled in every form of appraisal review, review process and the obligations of review appraisers.