Appraisal Reviews by Filson's Real Estate Appraisal Services, Inc.

According to a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Filson's Real Estate Appraisal Services, Inc. provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality." They "should also denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add typical reviews with post-funding evaluations of appraisal quality for a few of their high-liability or larger-value dealings as a channel to assist in uncovering valuation disputes."

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can prepare 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 Filson's Real Estate Appraisal Services, Inc., we are trained in every form of appraisal review, review procedure and the obligations of review appraisers.