Allatoona Appraisal Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." At Allatoona Appraisal, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. In addition, they "must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment regular reviews with post-funding assessments of appraisal quality for a number of their high-liability or greater-value dealings as a means to aid in detecting valuation issues."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll develop 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 are skilled in every form of appraisal review, review practice and the obligations of review appraisers.
We are aware of what the most prevalent defects are, especially in our home market. We also know what amounts to a quality appraisal. The professionals at Allatoona Appraisal are also experienced enough to distinguish that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Allatoona Appraisal to fairly examine appraisal reports performed by others. And those others might be studying our work, too!
At Allatoona Appraisal, you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.