Appraisal Reviews by Cheshier PAS

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Cheshier PAS, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality." Moreover, they "should denote whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for any of their higher-risk or large-value contracts as a method to assist in exposing valuation complications."

In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can 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 Cheshier PAS, we're experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.