Experienced Appraisal Reviews by Hartland Appraisals

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Hartland Appraisals, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's guidelines.

Appraisal reviews "ought to decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some institutions add routine reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value dealings as a control to help in uncovering valuation complications."

In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will 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 Hartland Appraisals, we're qualified in all types of appraisal reviews, review practices and the responsibilities of review appraisers.