Qualified Appraisal Reviews by Stutzman Appraisal Service

According to an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Stutzman Appraisal Service provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "ought to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report matches the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement routine reviews with post-funding evaluations of appraisal quality for a few of their high-liability or higher-value contracts as a control to aid in identifying valuation concerns."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Stutzman Appraisal Service, we're qualified in all forms of appraisal reviews, review practices and the requirements of review appraisers.