Expert Appraisal Reviews with The Appraisal Firm
According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews are obligated to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." The Appraisal Firm provides appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call The Appraisal Firm today.
Appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report is even with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add typical reviews with post-funding assessments of appraisal quality for a few of their high-liability or higher-value transactions as a method to assist in detecting valuation complications."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At The Appraisal Firm, we're trained in all forms of appraisal reviews, review practices and the obligations of review appraisers.
The Appraisal Firm understands what amounts to a quality appraisal and what the greatest inadequacies are, particularly in our housing market. Concurrently, we are professional enough to recognize that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to fairly review appraisal reports executed by others. And those others could be evaluating our work, too!
For professional, objective, ethical appraisal review services and independent judgments, you can count on The Appraisal Firm. Contact us to learn more about our qualifications, expertise and service offerings.