Appraisal Reviews by Pendley & Pendley Appraisers

As said in a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Pendley & Pendley Appraisers provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce typical reviews with post-funding surveys of appraisal quality for some of their higher-risk or high-value affairs as a means to help in exposing valuation concerns."

In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Pendley & Pendley Appraisers, we are qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.