Experienced Appraisal Reviews with Kevin Berridge

As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Kevin Berridge provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.

Appraisal reviews "must verify whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. In addition, they "should denote whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also says that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or higher-value contracts as a way to assist in exposing valuation disputes."

In addition to adjusting our work to the procedures 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 Kevin Berridge, we're qualified in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.