Quality Appraisal Reviews with Cloice Lybarger Appraisal Services

According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Cloice Lybarger Appraisal Services, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "ought to find out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or larger-value dealings as a method to help in revealing valuation complications."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can prepare 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 Cloice Lybarger Appraisal Services, we're skilled in every type of appraisal review, review procedure and the responsibilities of review appraisers.