Appraisal Reviews by Allatoona Appraisal
As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's regulations, look no further than Allatoona Appraisal.
If you need a real estate appraisal review or have questions regarding an appraisal, contact Allatoona Appraisal today.
The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is obtained ensures independence and quality." Moreover, they "should signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some banks reinforce routine reviews with post-funding surveys of appraisal quality for a number of their high-liability or large-value dealings as a way to assist in exposing valuation issues."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can 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. At Allatoona Appraisal, we are qualified in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
We are aware of what the most common inadequacies are, especially in our real estate market. We also understand what constitutes a quality appraisal. The professionals at Allatoona Appraisal are also amply skilled to respect that our competitors 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 count on us to justly study appraisal reports performed by others. And those others might be reviewing our work, too!
You can count on Allatoona Appraisal for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.