Appraisal-One Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers doing reviews should "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Appraisal-One, we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Appraisal-One today.
Appraisal reviews "should conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value dealings as a means to aid in exposing valuation disputes."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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 Appraisal-One, we are qualified in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We are aware of what represents a quality appraisal and what the most frequent weaknesses are, specifically in our housing market. At the same time, we are skilled enough to recognize that our competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly look over appraisal reports done by others. And those others could be reviewing our work, too!
You can count on Appraisal-One for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Appraisal-One to learn more about our qualifications, expertise and service offerings.