Appraisal Reviews with Trigg, Catlett & Associates

As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Trigg, Catlett & Associates provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.

As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce typical reviews with post-funding evaluations of appraisal quality for any of their higher-liability or larger-value dealings as a way to aid in uncovering valuation concerns."

In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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. Here at Trigg, Catlett & Associates, we're trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.