ASSOCIATES APPRAISAL Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." ASSOCIATES APPRAISAL provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call ASSOCIATES APPRAISAL today.
Appraisal reviews "must verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. In addition, they "should denote whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or greater-value transactions as a way to assist in uncovering valuation issues."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are usually 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. Here at ASSOCIATES APPRAISAL, we're trained in every form of appraisal review, review practice and the obligations of review appraisers.
ASSOCIATES APPRAISAL knows what the most common defects are, especially in our home market, as well as what amounts to a quality appraisal. We're also adequately trained to distinguish that the competition 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 trust us to lawfully assess appraisal reports carried out by others. And those others could be examining our work, too!
Here at ASSOCIATES APPRAISAL, you can count on our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact ASSOCIATES APPRAISAL for more information about our qualifications, expertise and services offered.
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