Appraisal Reviews by Appraisers Now, Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Appraisers Now, Inc., we provide appraisal review services that are objective, 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 in reference to an appraisal, call us today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. In addition, they "should announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions supplement regular reviews with post-funding surveys of appraisal quality for some of their higher-risk or high-value transactions as a means to aid in identifying valuation concerns."
In addition to coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can 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 Appraisers Now, Inc., we are experienced in every form of appraisal review, review procedure and the obligations of review appraisers.
We are familiar with what represents a quality appraisal and what the most common imperfections are, specifically in our real estate market. In the same regard, the professionals at Appraisers Now, Inc. are amply trained to know that our competition in our market are capable of doing quality work. 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 carried out by others. And those others might be evaluating our work, too!
At Appraisers Now, Inc., you can have confidence in our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.