Appraisal Reviews with Allatoona Appraisal
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Allatoona Appraisal today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. In addition, they "must demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the outlook of the appraisal assignment." The Federal Reserve also says that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for any of their high-liability or high-value dealings as a control to aid in exposing valuation issues."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Allatoona Appraisal, we are trained in every type of appraisal review, review procedure and the responsibilities of review appraisers.
Allatoona Appraisal is aware of what the most frequent imperfections are, particularly in our housing market, as well as what makes a quality appraisal. At the same time, we're adequately experienced to realize that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Allatoona Appraisal to objectively valuate appraisal reports carried out by others. And those others could be reviewing our work, too!
In short, at Allatoona Appraisal, you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.