Expert Appraisal Reviews by All City Appraisal
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." All City Appraisal provides appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "have to verify whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. They "must also show whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some institutions augment routine reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value transactions as a method to assist in addressing valuation problems."
In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will 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're experienced in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We're aware of what the greatest defects are, particularly in our home market. We also understand what constitutes a quality appraisal. We're also trained enough to respect that our competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to objectively examine appraisal reports completed by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on All City Appraisal. Contact All City Appraisal to learn more about our qualifications, expertise and service offerings.