Quality Appraisal Reviews by McCormick Co.

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, just contact McCormick Co..

According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some banks augment routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or greater-value affairs as a control to assist in addressing valuation problems."

In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually 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 McCormick Co., we are qualified in every kind of appraisal review, review procedure and the requirements of review appraisers.