Quality Appraisal Reviews by All City Appraisal

According to a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." All City Appraisal provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.

If you need 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 "have to conclude whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment routine reviews with post-funding surveys of appraisal quality for some of their higher-risk or large-value dealings as a means to aid in revealing valuation issues."

In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll prepare 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 skilled in every type of appraisal review, review procedure and the obligations of review appraisers.

We're aware of what the biggest deficiencies are, particularly in our housing market, as well as what constitutes a quality appraisal. Concurrently, we are sufficiently experienced to recognize that our competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to objectively look over appraisal reports carried out by others. And those others could be examining our work, too!

You can count on All City Appraisal for our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.

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