Appraisal Reviews with Michael Church Appraisals

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Michael Church, Cert Res RD8306, with 26 Years experience, provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions augment regular reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value contracts as a method to assist in discovering valuation disputes."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include either an appraisal "desk" review or a "field" review.  Here at Michael Church Appraisals, we are experienced in every form of appraisal review, review practice and the responsibilities of review appraisers.