Experienced Appraisal Reviews with Appraisal-One
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews have to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's guidelines, just contact Appraisal-One.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is attained ensures independence and quality." In addition, they "should indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some banks reinforce typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or greater-value contracts as a control to help in detecting valuation disputes."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisal-One, we're experienced in every kind of appraisal review, review practice and the obligations of review appraisers.
We know what the most prevalent defects are, particularly in our real estate market, as well as what amounts to a quality appraisal. In this regard, we're professional enough to realize that our 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 Appraisal-One to ethically review appraisal reports performed by others. And those others might be examining our work, too!
In short, here at Appraisal-One, you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.