All City Appraisal Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations, contact All City Appraisal.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact All City Appraisal today.
Appraisal reviews "should verify whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "must also denote whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add routine reviews with post-funding assessments of appraisal quality for any of their higher-liability or larger-value transactions as a control to help in uncovering valuation complications."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will 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 All City Appraisal, we're trained in every form of appraisal review, review practice and the requirements of review appraisers.
All City Appraisal understands what the most frequent defects are, specifically in our home market, as well as what amounts to a quality appraisal. At the same time, we're sufficiently trained to distinguish that the competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on All City Appraisal to lawfully evaluate appraisal reports done by others. And those others could be reviewing our work, too!
You can rely on All City Appraisal for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.