Appraisal Reviews with Denby Real Estate Inc.

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Denby Real Estate Inc., we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some institutions add routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or high-value contracts as a means to aid in exposing valuation concerns."

In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 Denby Real Estate Inc., we are trained in all types of appraisal reviews, review practices and the obligations of review appraisers.