Expert Appraisal Reviews with The Appraisal Firm
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews have to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at The Appraisal Firm, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact The Appraisal Firm today.
Appraisal reviews "ought to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value dealings as a channel to help in detecting valuation complications."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 skilled in every kind of appraisal review, review practice and the responsibilities of review appraisers.
We are aware of what makes a quality appraisal and what the most frequent weaknesses are, specifically in our real estate market. At the same time, we are sufficiently experienced to respect that the competition in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully evaluate appraisal reports executed by others. And those others could be studying our work, too!
Here at The Appraisal Firm, you can trust our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.