Qualified Appraisal Reviews by Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules, contact Allatoona Appraisal.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call Allatoona Appraisal today.
As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is compatible with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve notes that "some banks add typical reviews with post-funding assessments of appraisal quality for a few of their higher-liability or high-value affairs as a channel to assist in exposing valuation complications."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will prepare 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 skilled in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
We understand what makes a quality appraisal and what the biggest weaknesses are, specifically in our real estate market. The professionals at Allatoona Appraisal are also trained enough to realize that our competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to lawfully review appraisal reports executed by others. And those others may be reviewing our work, too!
You can count on Allatoona Appraisal for our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Allatoona Appraisal for more information about our qualifications, expertise and services offered.