All City Appraisal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at All City Appraisal, we provide appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality." Moreover, they "should show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for some of their higher-liability or high-value dealings as a method to aid in uncovering valuation issues."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally 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. Here at All City Appraisal, we are experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
All City Appraisal knows what the most frequent imperfections are, specifically in our home market. We also know what makes a quality appraisal. At the same time, we are amply skilled to acknowledge that our competition in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on All City Appraisal to lawfully valuate appraisal reports completed by others. And those others may be examining our work, too!
When you choose All City Appraisal, you can have confidence in our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.
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