Expert Appraisal Reviews by Mike Noble Appraisals

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Mike Noble Appraisals provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.

The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality." They "should also signify whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or high-value affairs as a means to assist in discovering valuation problems."

In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Mike Noble Appraisals, we're qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.