Quality Appraisal Reviews by Ouachita Appraisals

As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Ouachita Appraisals provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's guidelines.

Appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. Moreover, they "should announce whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for any of their higher-liability or high-value transactions as a method to help in discovering valuation complications."

In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Ouachita Appraisals, we're qualified in every kind of appraisal review, review procedure and the obligations of review appraisers.