Appraisal Reviews with Allatoona Appraisal
According to a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules, contact Allatoona Appraisal.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. Moreover, they "must show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add typical reviews with post-funding evaluations of appraisal quality for some of their high-risk or greater-value transactions as a control to aid in uncovering valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll 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 Allatoona Appraisal, we are experienced in all types of appraisal reviews, review practices and the requirements of review appraisers.
We understand what the most prevalent inadequacies are, especially in our home market, as well as what constitutes a quality appraisal. We're also experienced enough to realize that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to fairly look over appraisal reports carried out by others. And those others might be studying our work, too!
In short, when you choose Allatoona Appraisal, you can have confidence in our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Allatoona Appraisal for more information about our qualifications, expertise and service offerings.