Qualified Appraisal Reviews by Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Allatoona Appraisal provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should show whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for a few of their high-liability or large-value affairs as a means to help in revealing valuation issues."
In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll produce 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 Allatoona Appraisal, we're trained in all types of appraisal reviews, review practices and the requirements of review appraisers.
We understand what represents a quality appraisal and what the biggest defects are, specifically in our housing market. The professionals at Allatoona Appraisal are also skilled enough to distinguish that our competition in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly study appraisal reports done by others. And those others may be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on Allatoona Appraisal. Contact us for more information regarding our qualifications, expertise and service offerings.