All City Appraisal Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's rules, just contact All City Appraisal.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact All City Appraisal today.
As stated by the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for some of their high-liability or higher-value dealings as a channel to aid in discovering valuation problems."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at All City Appraisal, we're skilled in every type of appraisal review, review practice and the obligations of review appraisers.
We are familiar with what the most prevalent deficiencies are, particularly in our housing market. We also know what constitutes a quality appraisal. The professionals at All City Appraisal are also trained enough to know that the competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust All City Appraisal to fairly evaluate appraisal reports carried out by others. And those others could be examining our work, too!
You can trust All City Appraisal for 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.