Appraisal Reviews with Allen Appraisal Service
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews must "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Allen Appraisal Service provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, call Allen Appraisal Service today.
Appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality," the Federal Reserve says. They "should also announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions augment regular reviews with post-funding evaluations of appraisal quality for a number of their high-risk or high-value transactions as a channel to assist in addressing valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can produce 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 Allen Appraisal Service, we are experienced in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are aware of what the biggest defects are, specifically in our housing market, as well as what constitutes a quality appraisal. The professionals at Allen Appraisal Service are also trained enough to distinguish that the competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Allen Appraisal Service to objectively evaluate appraisal reports executed by others. And those others might be examining our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on Allen Appraisal Service. Contact us for more information regarding our qualifications, expertise and service offerings.