Appraisal Reviews with The Appraisal Shoppe
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations, just contact The Appraisal Shoppe.
If you need a real estate appraisal review or have questions in reference to an appraisal, call The Appraisal Shoppe today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. In addition, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement typical reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value contracts as a control to aid in exposing valuation disputes."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will prepare 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 The Appraisal Shoppe, we're qualified in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We understand what the greatest deficiencies are, especially in our housing market. We also understand what amounts to a quality appraisal. We're also adequately trained to acknowledge that the competitors in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to fairly look over appraisal reports executed by others. And those others may be evaluating our work, too!
You can depend on The Appraisal Shoppe for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact The Appraisal Shoppe regarding our qualifications, expertise and service offerings.