Experienced Appraisal Reviews with Kirkpatrick Appraisal Services

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Kirkpatrick Appraisal Services, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a few of their high-liability or high-value dealings as a control to assist in addressing valuation complications."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can develop 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 Kirkpatrick Appraisal Services, we are trained in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.