Experienced Appraisal Reviews with Allatoona Appraisal
As said in a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews ought to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Allatoona Appraisal today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for any of their higher-risk or high-value contracts as a control to help in identifying valuation complications."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will 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 Allatoona Appraisal, we're experienced in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We understand what the biggest deficiencies are, particularly in our real estate market. We also know what makes a quality appraisal. The professionals at Allatoona Appraisal are also sufficiently trained to recognize that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively look over appraisal reports performed by others. And those others might be examining our work, too!
In short, at Allatoona Appraisal, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.