Timeline Appraisal Services, LLC Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Timeline Appraisal Services, LLC provides appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules.

Appraisal reviews "should figure out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some banks augment typical reviews with post-funding assessments of appraisal quality for a number of their high-liability or greater-value transactions as a means to help in detecting valuation concerns."

In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will 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 Timeline Appraisal Services, LLC, we are trained in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.