Appraisal Reviews with Perry Associates LLC

As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Perry Associates LLC provides appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's regulations.

The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions add routine reviews with post-funding assessments of appraisal quality for some of their higher-risk or larger-value dealings as a method to aid in exposing valuation concerns."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll 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 Perry Associates LLC, we're trained in every kind of appraisal review, review process and the obligations of review appraisers.