Experienced Appraisal Reviews with Kunick Appraisals

As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Kunick Appraisals, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's rules.

Appraisal reviews "ought to determine whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for any of their high-liability or high-value contracts as a means to help in uncovering valuation dilemmas."

In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Kunick Appraisals, we are skilled in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.