Appraisal Reviews by Holt Associates

According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Holt Associates provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.

Appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value contracts as a channel to assist in exposing valuation issues."

In addition to coordinating 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'll formulate 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 Holt Associates, we're trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.