Appraisal Reviews by Appraisal House, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews ought to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Appraisal House, Inc., we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call Appraisal House, Inc. today.
Appraisal reviews "should find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." The Federal Reserve also says that "some banks add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or greater-value transactions as a means to assist in identifying valuation dilemmas."
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 can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Appraisal House, Inc., we're experienced in every type of appraisal review, review procedure and the obligations of review appraisers.
We understand what the most common deficiencies are, especially in our housing market. We also understand what constitutes a quality appraisal. Concurrently, we're amply trained to know that our competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to justly look over appraisal reports carried out by others. And those others could be evaluating our work, too!
You can count on Appraisal House, Inc. for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Appraisal House, Inc. to learn more about our qualifications, expertise and service offerings.