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 fulfilling reviews are obligated to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations, contact A. M. Appraisals.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact A. M. Appraisals today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement periodic reviews with post-funding assessments of appraisal quality for some of their higher-liability or higher-value contracts as a control to help in discovering valuation issues."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually 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. Here at A. M. Appraisals, we are skilled in every kind of appraisal review, review procedure 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 amounts to a quality appraisal. We're also amply experienced to recognize that our competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on A. M. Appraisals to objectively evaluate appraisal reports carried out by others. And those others might be reviewing our work, too!
You can count on A. M. Appraisals for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact A. M. Appraisals to learn more about our qualifications, expertise and services offered.
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