Expert Appraisal Reviews with The Appraisal Firm
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews must "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." The Appraisal Firm provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add regular reviews with post-funding assessments of appraisal quality for some of their higher-liability or greater-value dealings as a way to assist in discovering valuation complications."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll prepare 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 kinds of appraisal reviews, review processes and the requirements of review appraisers.
The Appraisal Firm understands what the most common inadequacies are, especially in our home market, as well as what constitutes a quality appraisal. The professionals at The Appraisal Firm are also trained enough to identify that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on The Appraisal Firm to objectively assess appraisal reports completed by others. And those others could be reviewing our work, too!
You can trust The Appraisal Firm for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact The Appraisal Firm regarding our qualifications, expertise and services offered.