Experienced Appraisal Reviews with Mulcock Appraising

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Mulcock Appraising provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some institutions augment regular reviews with post-funding surveys of appraisal quality for some of their high-liability or high-value dealings as a method to help in exposing valuation dilemmas."

In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 Mulcock Appraising, we're skilled in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.