Appraisal House, Inc. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Appraisal House, Inc., we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, call Appraisal House, Inc. today.
The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality." They "must also denote whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also says that "some financial institutions reinforce routine reviews with post-funding surveys of appraisal quality for a few of their high-risk or large-value transactions as a method to help in detecting valuation disputes."
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will 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 Appraisal House, Inc., we are trained in every kind of appraisal review, review procedure and the requirements of review appraisers.
We are aware of what the most frequent defects are, specifically in our home market, as well as what amounts to a quality appraisal. In the same regard, we are proficient enough to identify that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to justly evaluate appraisal reports carried out by others. And those others might be reviewing our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can depend on Appraisal House, Inc.. Contact Appraisal House, Inc. for more information regarding our qualifications, expertise and services offered.