Experienced Appraisal Reviews by Allatoona Appraisal
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Allatoona Appraisal, we provide appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact Allatoona Appraisal today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "must also show whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some banks add regular reviews with post-funding surveys of appraisal quality for a few of their high-risk or greater-value dealings as a way to aid in revealing valuation problems."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Allatoona Appraisal, we are experienced in every form of appraisal review, review process and the obligations of review appraisers.
Allatoona Appraisal knows what the most prevalent defects are, specifically in our real estate market. We also understand what constitutes a quality appraisal. The professionals at Allatoona Appraisal are also trained enough to admit that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Allatoona Appraisal to lawfully look over appraisal reports done by others. And those others might be reviewing our work, too!
In short, here at Allatoona Appraisal, you can rely on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.