Qualified Appraisal Reviews with Welch Appraisals

According to a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews ought to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Welch Appraisals provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.

According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality." They "should also signify whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce regular reviews with post-funding surveys of appraisal quality for a number of their high-liability or large-value affairs as a channel 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 mostly used for review services, and we can produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Welch Appraisals, we're trained in every kind of appraisal review, review procedure and the responsibilities of review appraisers.