Allatoona Appraisal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Allatoona Appraisal provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must show whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment regular reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value affairs as a control to help in detecting valuation problems."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can produce an appraisal review on any one 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 type of appraisal review, review practice and the obligations of review appraisers.
We understand what the biggest deficiencies are, particularly in our home market, as well as what makes a quality appraisal. Concurrently, we are adequately skilled to acknowledge that the 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 rely on Allatoona Appraisal to lawfully look over appraisal reports done by others. And those others may be studying our work, too!
You can rely on Allatoona Appraisal for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.