Qualified Appraisal Reviews with Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's rules, just contact Allatoona Appraisal.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Allatoona Appraisal today.
Appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. They "should also signify whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some institutions add routine reviews with post-funding evaluations of appraisal quality for any of their higher-liability or high-value transactions as a channel to help in addressing valuation disputes."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will 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 experienced in every form of appraisal review, review practice and the requirements of review appraisers.
Allatoona Appraisal is aware of what the most frequent defects are, particularly in our housing market. We also know what constitutes a quality appraisal. We're also skilled enough to acknowledge that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Allatoona Appraisal to objectively valuate appraisal reports executed by others. And those others may be reviewing our work, too!
You can rely on Allatoona Appraisal for our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Allatoona Appraisal regarding our qualifications, expertise and services offered.