Experienced Appraisal Reviews with Appraisal-One
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews must "have the familiarity and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, contact Appraisal-One.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Appraisal-One today.
As stated by the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality." Moreover, they "should demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for some of their high-risk or high-value contracts as a way to assist in uncovering valuation concerns."
In addition to tailoring 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 can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Appraisal-One, we are trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
We are aware of what amounts to a quality appraisal and what the most frequent deficiencies are, specifically in our home market. We're also sufficiently trained to respect that our competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Appraisal-One to fairly review appraisal reports performed by others. And those others may be studying our work, too!
At Appraisal-One, you can trust our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.