Appraisal Reviews with T Mitchell Appraisals Corp.

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at T Mitchell Appraisals Corp., we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines.

As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." Moreover, they "should show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks augment periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a channel to assist in uncovering valuation dilemmas."

In addition to conforming our work to the practices 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 T Mitchell Appraisals Corp., we're skilled in all forms of appraisal reviews, review processes and the requirements of review appraisers.