Quality Appraisal Reviews with All City Appraisal
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At All City Appraisal, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call All City Appraisal today.
Appraisal reviews "should find out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. In addition, they "must announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment typical reviews with post-funding assessments of appraisal quality for any of their high-liability or high-value transactions as a control to help in addressing valuation dilemmas."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll produce 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 qualified in every kind of appraisal review, review practice and the responsibilities of review appraisers.
All City Appraisal is aware of what the most common inadequacies are, particularly in our real estate market, as well as what amounts to a quality appraisal. We're also amply experienced to admit that our competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on All City Appraisal to justly valuate appraisal reports executed by others. And those others might be studying our work, too!
Here at All City Appraisal, you can be sure of our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.