All City Appraisal Appraisal Reviews
As said 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 performing reviews must "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules, just contact All City Appraisal.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
Appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is obtained guarantees independence and quality," according to the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment periodic reviews with post-funding evaluations of appraisal quality for any of their high-liability or large-value affairs as a control to assist in uncovering valuation concerns."
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At All City Appraisal, we are trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
All City Appraisal is aware of what the greatest imperfections are, specifically in our real estate market, as well as what makes a quality appraisal. In this regard, we are sufficiently trained to recognize that our competition in our market are skillful in doing good 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 look over appraisal reports done by others. And those others might be studying our work, too!
In short, at All City Appraisal, you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact All City Appraisal for more information regarding our qualifications, expertise and service offerings.