Expert Appraisal Reviews by Salvatore & Associates Inc.

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Salvatore & Associates Inc., we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules.

Appraisal reviews "ought to conclude whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. They "must also indicate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment regular reviews with post-funding assessments of appraisal quality for a number of their higher-liability or high-value affairs as a channel to help in exposing valuation problems."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can prepare 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 Salvatore & Associates Inc., we are trained in every form of appraisal review, review process and the requirements of review appraisers.