Appraisal House, Inc. Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Appraisal House, Inc., we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call Appraisal House, Inc. today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. They "must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions add routine reviews with post-funding assessments of appraisal quality for any of their high-liability or greater-value dealings as a means to aid in revealing valuation complications."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Appraisal House, Inc., we're skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We realize what the most prevalent defects are, particularly in our real estate market. We also know what represents a quality appraisal. Concurrently, the professionals at Appraisal House, Inc. are amply experienced to realize that our competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to lawfully examine appraisal reports performed by others. And those others may be reviewing our work, too!
When you choose Appraisal House, Inc., you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Appraisal House, Inc. to learn more about our qualifications, expertise and services offered.