Qualified Appraisal Reviews by A. M. Appraisals
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." A. M. Appraisals provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact us today.
The Federal Reserve says appraisal reviews "have to verify whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks add typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or high-value dealings as a way to assist in identifying valuation concerns."
In addition to coordinating our work to the procedures 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At A. M. Appraisals, we are experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
We are aware of what the most common imperfections are, specifically in our home market. We also understand what constitutes a quality appraisal. In the same regard, we're sufficiently trained to identify that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly valuate appraisal reports done by others. And those others could be evaluating our work, too!
In short, here at A. M. Appraisals, you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact A. M. Appraisals for more information regarding our qualifications, expertise and service offerings.
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