Appraisal Reviews with A.M. Appraisal
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at A.M. Appraisal, we provide appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call A.M. Appraisal today.
According to the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality." They "must also signify whether the appraisal or evaluation report is true to the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for any of their higher-risk or high-value transactions as a means to aid in exposing valuation disputes."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually 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 A.M. Appraisal, we're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
A.M. Appraisal understands what the most prevalent imperfections are, particularly in our housing market. We also understand what constitutes a quality appraisal. We're also experienced enough to realize that our competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly look over appraisal reports done by others. And those others may be examining our work, too!
In short, at A.M. Appraisal, you can count on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact A.M. Appraisal regarding our qualifications, expertise and service offerings.