Quality Appraisal Reviews by RWA Appraisals

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At RWA Appraisals, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality." They "should also announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for a number of their higher-liability or larger-value transactions as a channel to aid in revealing valuation concerns."

In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 RWA Appraisals, we are qualified in every form of appraisal review, review practice and the obligations of review appraisers.