Appraisal Reviews with Silverpilen Corp.

According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Silverpilen Corp., we provide appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.

As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions reinforce typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value contracts as a method to assist in uncovering valuation dilemmas."

In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Silverpilen Corp., we are trained in all forms of appraisal reviews, review procedures and the obligations of review appraisers.