Appraisal Reviews by All City AppraisalAs said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At All City Appraisal, we provide appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's guidelines. If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today. The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value dealings as a channel to assist in revealing valuation concerns." In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll prepare 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 are qualified in all forms of appraisal reviews, review practices and the obligations of review appraisers. All City Appraisal knows what the most common inadequacies are, specifically in our home market, as well as what makes a quality appraisal. The professionals at All City Appraisal are also sufficiently skilled to recognize that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on All City Appraisal to justly assess appraisal reports carried out by others. And those others could be examining our work, too! You can depend on All City Appraisal for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered. |