Qualified Appraisal Reviews with All City Appraisal
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at All City Appraisal, we provide appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, call All City Appraisal today.
As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement periodic reviews with post-funding evaluations of appraisal quality for some of their high-risk or greater-value contracts as a method to aid in detecting valuation concerns."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely 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. At All City Appraisal, we are qualified in every form of appraisal review, review practice and the responsibilities of review appraisers.
All City Appraisal realizes what makes a quality appraisal and what the most frequent deficiencies are, particularly in our home market. In this regard, we are professional enough to identify that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust All City Appraisal to lawfully assess appraisal reports performed by others. And those others could be examining our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on All City Appraisal. Contact us regarding our qualifications, expertise and service offerings.