As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews must "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at The Appraisal Firm, we provide appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also says that "some institutions add routine reviews with post-funding surveys of appraisal quality for some of their high-liability or higher-value dealings as a method to assist in discovering valuation issues."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at The Appraisal Firm, we are skilled in all types of appraisal reviews, review practices and the requirements of review appraisers.
The Appraisal Firm knows what the most frequent imperfections are, specifically in our home market. We also understand what makes a quality appraisal. We're also amply experienced to realize that the competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on The Appraisal Firm to fairly evaluate appraisal reports completed by others. And those others might be examining our work, too!
You can depend on The Appraisal Firm for our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact The Appraisal Firm regarding our qualifications, expertise and service offerings.