Experienced Appraisal Reviews with Cornerstone Realty

As said in 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 proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Cornerstone Realty, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.

The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or greater-value dealings as a method to assist in discovering valuation issues."

In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely 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. At Cornerstone Realty, we are experienced in every type of appraisal review, review procedure and the responsibilities of review appraisers.