Expert Appraisal Reviews with Michael Cerrato

As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules, contact Michael Cerrato.

According to the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality." They "should also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce typical reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value transactions as a method to aid in uncovering valuation concerns."

In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Michael Cerrato, we are skilled in every form of appraisal review, review procedure and the obligations of review appraisers.