Expert Appraisal Reviews by All City Appraisal
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 fulfilling reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." At All City Appraisal, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call All City Appraisal today.
As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is obtained ensures independence and quality." They "must also announce whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement typical reviews with post-funding assessments of appraisal quality for some of their higher-liability or larger-value affairs as a channel to help in exposing 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 mostly used for review services, and we'll prepare an appraisal review on any 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 skilled in all types of appraisal reviews, review procedures and the obligations of review appraisers.
We realize what the greatest defects are, particularly in our housing market, as well as what amounts to a quality appraisal. Concurrently, we are trained enough to know that the competitors 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 rely on us to ethically examine appraisal reports performed by others. And those others could be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on All City Appraisal. Contact All City Appraisal regarding our qualifications, expertise and services offered.