Qualified Appraisal Reviews with Ronald Coffman

According to a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews have to "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Ronald Coffman provides appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "ought to verify whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "must show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a number of their higher-liability or large-value transactions as a way to help in detecting valuation disputes."

In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can produce 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 Ronald Coffman, we are qualified in every type of appraisal review, review procedure and the requirements of review appraisers.