Appraisal Reviews with Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Allatoona Appraisal provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Allatoona Appraisal today.
As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some institutions augment regular reviews with post-funding surveys of appraisal quality for a number of their higher-risk or high-value transactions as a means to aid in discovering valuation disputes."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally 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're skilled in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
Allatoona Appraisal realizes what the most frequent imperfections are, particularly in our housing market. We also know what makes a quality appraisal. We're also amply skilled to know that our competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to ethically look over appraisal reports completed by others. And those others may be examining our work, too!
Here at Allatoona Appraisal, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Allatoona Appraisal for more information regarding our qualifications, expertise and services offered.