Allatoona Appraisal Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers completing reviews should "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Allatoona Appraisal today.
Appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. They "should also indicate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add periodic reviews with post-funding evaluations of appraisal quality for any of their higher-liability or greater-value transactions as a method to help in uncovering valuation concerns."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can prepare 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 qualified in every kind of appraisal review, review procedure and the obligations of review appraisers.
Allatoona Appraisal knows what makes a quality appraisal and what the most prevalent weaknesses are, particularly in our home market. In the same regard, we are proficient enough to identify that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Allatoona Appraisal to objectively review appraisal reports performed by others. And those others may be evaluating our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on Allatoona Appraisal. Contact Allatoona Appraisal for more information about our qualifications, expertise and services offered.