Quality Appraisal Reviews by Pinnacle Appraisals

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Pinnacle Appraisals, we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules.

According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality." They "must also show whether the appraisal or evaluation report is compatible with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions reinforce typical reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value transactions as a method to assist in addressing valuation issues."

In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can develop 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 Pinnacle Appraisals, we are experienced in every type of appraisal review, review procedure and the responsibilities of review appraisers.