Expert Appraisal Reviews by Foster & Foster Realty and Auction Company

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews ought to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Foster & Foster Realty and Auction Company provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's regulations.

Appraisal reviews "must conclude whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is even with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also states that "some institutions augment regular reviews with post-funding surveys of appraisal quality for some of their higher-liability or high-value dealings as a means to aid in addressing valuation concerns."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can 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 Foster & Foster Realty and Auction Company, we're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.