Expert Appraisal Reviews by ASSOCIATES APPRAISAL
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." ASSOCIATES APPRAISAL provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact ASSOCIATES APPRAISAL today.
According to the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is attained guarantees independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for some of their high-liability or larger-value contracts as a means to assist in addressing valuation issues."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will 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 ASSOCIATES APPRAISAL, we're skilled in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
ASSOCIATES APPRAISAL is aware of what the most prevalent inadequacies are, specifically in our home market. We also know what constitutes a quality appraisal. We're also skilled enough to identify that our competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to objectively examine appraisal reports executed by others. And those others could be evaluating our work, too!
You can trust ASSOCIATES APPRAISAL for our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.
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