Quality Appraisal Reviews by All City Appraisal
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews should "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." All City Appraisal provides appraisal review services that are impartial, qualified, 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 us today.
The Federal Reserve says appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or greater-value affairs as a channel to assist in addressing valuation complications."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can 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 every kind of appraisal review, review practice and the requirements of review appraisers.
We are familiar with what the greatest weaknesses are, particularly in our housing market. We also know what represents a quality appraisal. Concurrently, we're adequately trained to distinguish that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust All City Appraisal to fairly assess appraisal reports carried out by others. And those others might be examining our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can rely on All City Appraisal. Contact All City Appraisal to learn more about our qualifications, expertise and services offered.