Qualified Appraisal Reviews by Rushmore Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews ought to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Rushmore Appraisals, we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "should verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. Moreover, they "should denote whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some banks add regular reviews with post-funding assessments of appraisal quality for a number of their high-liability or large-value dealings as a control to help in identifying valuation disputes."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Rushmore Appraisals, we're experienced in every form of appraisal review, review procedure and the requirements of review appraisers.