Quality Appraisal Reviews with Crosstown Appraisals LLC

According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers doing reviews must "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Crosstown Appraisals LLC provides appraisal review services that are objective, qualified, professional and square with the Federal Reserve's regulations.

Appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or high-value contracts as a method to aid in uncovering valuation complications."

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will 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 Crosstown Appraisals LLC, we are qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.