Appraisal reviews "should determine 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 Fed says. They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment."  The Fed also notes that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk, greater-value transactions, or quality assurance as a control to assist in detecting valuation problems."

In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Canyon Appraisal Services, we are experienced in all types of appraisal reviews, review procedures and the responsibilities of review appraisers. 

We understand what makes a valid appraisal and what the most common deficiencies are, especially in our market area. At the same time, we are professional enough to recognize that other appraisers in our market are capable of doing a good job! The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can depend on us to ethically evaluate appraisal reports performed by others.  Others may be reviewing our work, too! 

In short, with Canyon Appraisal Services, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients.  Browse our website to learn more about our qualifications, expertise and services.