Expert Appraisal Reviews with All City Appraisal
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at All City Appraisal, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact All City Appraisal today.
The Federal Reserve says appraisal reviews "have to figure out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or greater-value contracts as a control to aid in identifying valuation concerns."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely 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. At All City Appraisal, we are skilled in every form of appraisal review, review practice and the requirements of review appraisers.
All City Appraisal is aware of what the greatest inadequacies are, particularly in our housing market, as well as what amounts to a quality appraisal. In this regard, we are adequately skilled to distinguish that the competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on All City Appraisal to lawfully assess appraisal reports carried out by others. And those others may be reviewing our work, too!
In short, here at All City Appraisal, you can rely on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact All City Appraisal for more information regarding our qualifications, expertise and service offerings.