Expert Appraisal Reviews by Robert J. Nelson, SRA

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews should "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Robert J. Nelson, SRA provides appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "must decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must signify 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 typical reviews with post-funding surveys of appraisal quality for any of their high-risk or higher-value dealings as a control to help in revealing valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Robert J. Nelson, SRA, we are experienced in all types of appraisal reviews, review processes and the obligations of review appraisers.