Allatoona Appraisal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Allatoona Appraisal, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Allatoona Appraisal today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. Moreover, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment typical reviews with post-funding surveys of appraisal quality for some of their higher-risk or higher-value contracts as a method to assist in exposing valuation complications."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will formulate 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 experienced in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
We are familiar with what the greatest weaknesses are, specifically in our housing market. We also understand what constitutes a quality appraisal. In the same regard, we're experienced enough to admit that the competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Allatoona Appraisal to ethically look over appraisal reports completed by others. And those others could be examining our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can depend on Allatoona Appraisal. Contact us for more information about our qualifications, expertise and service offerings.