Qualified Appraisal Reviews with Allatoona Appraisal
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Allatoona Appraisal, we provide appraisal review services that are impartial, qualified, professional and square 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.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for any of their high-liability or larger-value transactions as a way to assist in addressing valuation dilemmas."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely 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're qualified in every form of appraisal review, review process and the responsibilities of review appraisers.
We are aware of what the most common inadequacies are, especially in our housing market, as well as what amounts to a quality appraisal. Concurrently, we are amply trained to acknowledge that the competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Allatoona Appraisal to ethically study appraisal reports completed by others. And those others might be evaluating our work, too!
When you choose Allatoona Appraisal, you can count on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Allatoona Appraisal for more information regarding our qualifications, expertise and service offerings.