Quality Appraisal Reviews by A. M. Appraisals
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews should "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at A. M. Appraisals, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." They "should also announce whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value affairs as a way to help in identifying valuation complications."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can develop 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 kinds of appraisal reviews, review processes and the obligations of review appraisers.
We understand what the most prevalent deficiencies are, particularly in our housing market, as well as what constitutes a quality appraisal. The professionals at A. M. Appraisals are also amply experienced to realize that the competition in our market are skillful in 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 A. M. Appraisals to ethically look over appraisal reports performed by others. And those others could be evaluating our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can rely on A. M. Appraisals. Contact us to learn more about our qualifications, expertise and service offerings.
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