Appraisal Reviews with A. M. Appraisals
As said in a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews ought to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's guidelines, just contact A. M. Appraisals.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact A. M. Appraisals today.
According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or large-value transactions as a control to aid in identifying 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 widely used for review services, and we'll 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 A. M. Appraisals, we're qualified in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
We're aware of what constitutes a quality appraisal and what the most frequent weaknesses are, especially in our real estate market. We're also amply experienced to realize that our competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to fairly look over appraisal reports completed by others. And those others could be reviewing our work, too!
You can depend on A. M. Appraisals for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact A. M. Appraisals to learn more about our qualifications, expertise and service offerings.
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