Sazima Appraisals Appraisal Reviews

As said in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Sazima Appraisals, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. Moreover, they "must show whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks augment periodic reviews with post-funding assessments of appraisal quality for any of their high-liability or high-value dealings as a channel to assist in identifying valuation dilemmas."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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 Sazima Appraisals, we're trained in every kind of appraisal review, review practice and the obligations of review appraisers.