According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At The Appraisal Firm, we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality." In addition, they "must signify whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some financial institutions add routine reviews with post-funding evaluations of appraisal quality for a number of their high-liability or greater-value dealings as a means to help in revealing valuation complications."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At The Appraisal Firm, we're experienced in every type of appraisal review, review process and the requirements of review appraisers.
We're aware of what the biggest inadequacies are, especially in our real estate market. We also understand what makes a quality appraisal. The professionals at The Appraisal Firm are also adequately trained to realize that the competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust The Appraisal Firm to objectively look over appraisal reports executed by others. And those others might be reviewing our work, too!
In short, when you choose The Appraisal Firm, you can trust our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact The Appraisal Firm regarding our qualifications, expertise and services offered.