Appraisal Reviews by Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews must "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Allatoona Appraisal today.
As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." They "should also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve says that "some banks augment routine reviews with post-funding surveys of appraisal quality for a number of their high-risk or high-value affairs as a method to aid in detecting valuation complications."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Allatoona Appraisal, we are qualified in all forms of appraisal reviews, review practices and the obligations of review appraisers.
Allatoona Appraisal realizes what the greatest deficiencies are, especially in our housing market, as well as what amounts to a quality appraisal. The professionals at Allatoona Appraisal are also amply experienced to distinguish that the competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Allatoona Appraisal to objectively valuate appraisal reports executed by others. And those others might be examining our work, too!
You can count on Allatoona Appraisal for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Allatoona Appraisal regarding our qualifications, expertise and service offerings.