Appraisal Reviews with Stammer Appraisal Inc.

As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At Stammer Appraisal Inc., we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's guidelines.

Appraisal reviews "should verify whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or larger-value contracts as a channel to help in uncovering valuation concerns."

In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will formulate 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 Stammer Appraisal Inc., we are trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.