Qualified Appraisal Reviews with Silverpilen Corp.

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Silverpilen Corp. provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's guidelines.

Appraisal reviews "should verify whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some institutions supplement routine reviews with post-funding surveys of appraisal quality for a few of their high-liability or high-value transactions as a means to assist in uncovering valuation complications."

In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are usually 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. At Silverpilen Corp., we are qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.