Qualified Appraisal Reviews by A. M. Appraisals
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews should "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines, contact A. M. Appraisals.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or larger-value transactions as a control to aid in discovering valuation dilemmas."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally 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 A. M. Appraisals, we're skilled in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
A. M. Appraisals understands what represents a quality appraisal and what the most common deficiencies are, especially in our housing market. The professionals at A. M. Appraisals are also sufficiently experienced to admit that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust A. M. Appraisals to objectively evaluate appraisal reports executed by others. And those others may be evaluating our work, too!
In short, at A. M. Appraisals, you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.
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