Appraisal Reviews with Allatoona Appraisal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Allatoona Appraisal provides appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call Allatoona Appraisal today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality." They "should also show whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or higher-value transactions as a channel to assist in identifying valuation disputes."
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will formulate 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're skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.
Allatoona Appraisal understands what the most common inadequacies are, particularly in our home market. We also know what makes a quality appraisal. The professionals at Allatoona Appraisal are also sufficiently skilled to realize that our competitors in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly review appraisal reports carried out by others. And those others may be examining our work, too!
In short, when you choose Allatoona Appraisal, you can trust our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Allatoona Appraisal for more information about our qualifications, expertise and service offerings.