Appraisal Reviews with Appraisal Services Of Hawaii

According to an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Appraisal Services Of Hawaii provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality." They "should also show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some banks add typical reviews with post-funding assessments of appraisal quality for any of their higher-risk or high-value dealings as a channel to aid in detecting valuation problems."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally 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. Here at Appraisal Services Of Hawaii, we're trained in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.