APPRAISAL REVIEW SERVICES
According to the 2010 Interagency Appraisal and Evaluation Guidelines, financial institutions are expected to
maintain an appraisal review process that "provides for a comprehensive
review of those appraisals supporting transactions that pose higher
credit risk." The guidelines state persons who review appraisals should
"possess the requisite education, expertise, and competence to perform
the review commensurate with the complexity of the transaction."
In today's environment of increased regulatory
scrutiny, many financial institutions do not have the resources to staff
a department of qualified professionals to review appraisals for
regulatory compliance or to assure they contain properly supported value
conclusions. It has been reported that in recent examinations, some
institutions have been cited for having reviews completed by
non-certified appraisers. Examiners have also been looking for more
detailed appraisal reviews on transactions with higher loan amounts, or
when complex property is being taken as collateral.
With nearly half of my 34 years in the appraisal profession spent with
financial institutions, I have a unique combination of banking and
appraisal experience to offer lenders timely cost-effective review
services, along with the feedback they need to help manage risk and
provide solid documentation to comply with regulatory guidelines. As a
banker, I held the positions of staff appraiser, appraisal review
officer and chief appraiser, having completed thousands of reviews and
participated in regulatory examinations where my reviews have been
tested. As a designated MAI, I understand complex appraisal assignments
and what constitutes a quality appraisal.
I would appreciate the opportunity to speak further with you regarding
how Ness Associates can assist your financial institution with your
appraisal review needs. We can customize a program to meet your specific
requirements - from a one-time review to comprehensive appraisal
administration. Please feel free to call with any questions.