Qualified Appraisal Reviews by Birchwood & Leaf Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Birchwood & Leaf Appraisals, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or large-value transactions as a method to aid in exposing valuation concerns."

In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll 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 Birchwood & Leaf Appraisals, we're qualified in every form of appraisal review, review process and the obligations of review appraisers.