Appraisal Reviews by Hughes Appraisals, LLC

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations, look no further than Hughes Appraisals, LLC.

According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is collected guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for some of their higher-liability or higher-value contracts as a control to aid in discovering valuation issues."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can develop 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 Hughes Appraisals, LLC, we're skilled in all forms of appraisal reviews, review processes and the obligations of review appraisers.