Qualified Appraisal Reviews with Allatoona Appraisal
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Allatoona Appraisal, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
The Federal Reserve says appraisal reviews "should verify whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality." They "must also announce whether the appraisal or evaluation report matches the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions add regular reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value affairs as a way to assist in identifying valuation concerns."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can produce 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 trained in every kind of appraisal review, review process and the responsibilities of review appraisers.
We understand what amounts to a quality appraisal and what the most frequent defects are, particularly in our home market. The professionals at Allatoona Appraisal are also amply trained to distinguish that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly study appraisal reports completed by others. And those others might be reviewing our work, too!
When you choose Allatoona Appraisal, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Allatoona Appraisal for more information about our qualifications, expertise and service offerings.