Review Appraisals

Springhouse appraisal management is rooted in quality control and due diligence, and understands that thoroughness in preparation and completion will continue to be a pillar of the lending and mortgage industry for years to come. As a result, we have developed an appraisal review department that offers a variety of products for refinance applications, appraisal fraud investigations, mortgage insurance claims, addendums and litigation support. Our review appraisers are assigned according to their coverage area and are experienced in writing fact supported reports using local statistics and comparable sales.

Below is an explanation of our review services:

Residential Desk Review Services

Desk reviews are considered to be a limited review of an appraisal completed by an independent review appraiser that is external or non-related to the transaction. The objective of a desk review is data verification of the subject and comparable sales, as well as analysis of the appraisal report. The primary purpose of an appraisal review is to validate the appraisal report as well as support or deny the review appraiser's methodology and value conclusions. We use qualified review appraisers in the local market of the subject property. We require well written and supported appraisal review opinions with 24-48 hr response time.

Desk Review (Form FNMA 2006)

A Springhouse panel review appraiser completes data verification of the subject and comparable sale dates, sale prices, document and MLS numbers, and prior sales history. Based on the content of the report, the Springhouse review appraiser will form his or her own opinion as to the accuracy, completeness, and methodology utilized in the original appraisal report.

Enhanced Desk Review

Allows for similar analysis of a desk review with the addition of comparable sales data. The review appraiser will provide two additional comparables to support or dispute the value conclusion utilized in the appraisal report.

Residential Field Review Services

Field Reviews are a similar extensive review of the appraisal with the primary objective of data verification of the subject and comparable sales, as well as analysis of the appraisal report. Field reviews pair the analysis of the appraisal report itself with a drive-exterior inspection of the subject property from the street as well as the comparable sales. Our field reviews provide an accurate analysis of the data utilized to support the methodology and conclusions within the appraisal report.

Field Review (Form FNMA 2000/FHLMC 1032)

A Springhouse panel review appraiser completes data verification of the subject and comparable sale dates, sale prices, document and MLS numbers, and prior sales history. The review appraiser will complete an exterior inspection of the subject property and all of the comparable sales. After an extensive review of the appraisal report, and onsite inspection of the comparable sales data, the Springhouse review appraiser will form his or her own opinion as to the accuracy, completeness, and methodology utilized in the original appraisal report as well as report any errors or omissions.

Enhanced Field Review

Allows for similar analysis of a field review with the addition of comparable sales data. The review appraiser will provide two additional comparables to support or dispute the value conclusion utilized in the appraisal report.

Springhouse also offers field reviews with interior inspections. We offer reviews on all report types, including 1-4 Multi-family small income reports.