Experienced Appraisal Reviews by Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Allatoona Appraisal today.
Appraisal reviews "must decide whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or large-value transactions as a control to assist in addressing valuation concerns."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will produce 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 qualified in every form of appraisal review, review practice and the obligations of review appraisers.
Allatoona Appraisal realizes what constitutes a quality appraisal and what the biggest inadequacies are, especially in our real estate market. In this regard, we're experienced enough to acknowledge that our competitors in our market are qualified to do 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 objectively assess appraisal reports carried out by others. And those others could be studying our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can depend on Allatoona Appraisal. Contact us regarding our qualifications, expertise and services offered.