Viviree Scotton Appraisal Reviews

As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Viviree Scotton, we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's rules.

Appraisal reviews "have to figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or greater-value contracts as a control to assist in uncovering valuation complications."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Viviree Scotton, we are skilled in every type of appraisal review, review practice and the requirements of review appraisers.