A. M. Appraisals Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at A. M. Appraisals, we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "have to verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks reinforce routine reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or large-value dealings as a channel to assist in addressing valuation concerns."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At A. M. Appraisals, we're skilled in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
We realize what the most common inadequacies are, especially in our housing market, as well as what amounts to a quality appraisal. The professionals at A. M. Appraisals are also amply skilled to realize that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to fairly study appraisal reports completed by others. And those others might be reviewing our work, too!
At A. M. Appraisals, you can count on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.
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