Quality Appraisal Reviews by ASSOCIATES APPRAISAL
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews must "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's guidelines, look no further than ASSOCIATES APPRAISAL.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality." They "should also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some banks augment routine reviews with post-funding evaluations of appraisal quality for any of their high-risk or larger-value affairs as a way to assist in uncovering valuation disputes."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can develop 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 ASSOCIATES APPRAISAL, we're qualified in every kind of appraisal review, review procedure and the requirements of review appraisers.
We realize what constitutes a quality appraisal and what the most frequent deficiencies are, particularly in our real estate market. Concurrently, we're professional enough to acknowledge that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to lawfully assess appraisal reports performed by others. And those others might be evaluating our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can rely on ASSOCIATES APPRAISAL. Contact us regarding our qualifications, expertise and services offered.
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