All City Appraisal Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews must "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." All City Appraisal provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact All City Appraisal today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "must denote whether the appraisal or evaluation report matches the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment regular reviews with post-funding surveys of appraisal quality for any of their high-risk or larger-value transactions as a way to assist in discovering valuation disputes."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. At All City Appraisal, we are skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We know what amounts to a quality appraisal and what the most prevalent weaknesses are, especially in our home market. In this regard, we are amply skilled to respect that the competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on All City Appraisal to justly study appraisal reports completed by others. And those others might be examining our work, too!
You can depend on All City Appraisal for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact All City Appraisal for more information regarding our qualifications, expertise and services offered.