Appraisal-One Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Appraisal-One provides appraisal review services that are independent, qualified, professional and in accordance 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.
The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or large-value transactions as a method to aid in detecting valuation complications."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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. At Appraisal-One, we're trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
Appraisal-One understands what the most prevalent imperfections are, especially in our real estate market. We also understand what amounts to a quality appraisal. The professionals at Appraisal-One are also trained enough to respect that our competitors in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Appraisal-One to ethically study appraisal reports done by others. And those others might be reviewing our work, too!
In short, here at Appraisal-One, you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.