Quality Appraisal Reviews with All City Appraisal
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews must "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." At All City Appraisal, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call All City Appraisal today.
According to the Federal Reserve, appraisal reviews "ought to determine whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding evaluations of appraisal quality for any of their higher-liability or higher-value contracts as a way to assist in exposing valuation issues."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will 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 qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are aware of what the biggest weaknesses are, particularly in our home market, as well as what makes a quality appraisal. In the same sense, we're trained enough to respect that our competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to ethically valuate appraisal reports executed by others. And those others might be evaluating our work, too!
Here at All City Appraisal, you can count on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact All City Appraisal to learn more about our qualifications, expertise and services offered.