Appraisal Reviews with Allatoona Appraisal
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Allatoona Appraisal today.
Appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "should also signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some banks supplement regular reviews with post-funding surveys of appraisal quality for some of their higher-liability or high-value transactions as a way to help in addressing valuation complications."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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're experienced in all types of appraisal reviews, review practices and the obligations of review appraisers.
Allatoona Appraisal realizes what amounts to a quality appraisal and what the most frequent weaknesses are, particularly in our housing market. At the same time, the professionals at Allatoona Appraisal are amply skilled to acknowledge that the competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Allatoona Appraisal to objectively review appraisal reports executed by others. And those others could be studying our work, too!
You can depend on Allatoona Appraisal for our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.