Qualified Appraisal Reviews by OCV

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's guidelines, just contact OCV.

As stated by the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." In addition, they "should announce whether the appraisal or evaluation report is even with the letter of engagement, which describes the scope of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for some of their higher-liability or larger-value dealings as a channel to aid in discovering valuation disputes."

In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At OCV, we are experienced in every type of appraisal review, review procedure and the obligations of review appraisers.