Appraisal Reviews with Cornerstone Property Appraisal Group, LLC

As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation programs," and that appraisers doing reviews must "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Cornerstone Property Appraisal Group, LLC provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "ought to decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. Moreover, they "should denote whether the appraisal or evaluation report is even with the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce typical reviews with post-funding evaluations of appraisal quality for a number of their high-liability or greater-value contracts as a method to help in exposing valuation concerns."

In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will produce 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 Cornerstone Property Appraisal Group, LLC, we're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.