Expert Appraisal Reviews by A. M. Appraisals
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews should "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." A. M. Appraisals provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report matches the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value contracts as a control to assist in addressing valuation concerns."
In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At A. M. Appraisals, we're experienced in all forms of appraisal reviews, review processes and the requirements of review appraisers.
A. M. Appraisals understands what the most common weaknesses are, specifically in our real estate market, as well as what constitutes a quality appraisal. At the same time, we are sufficiently trained to respect that the competition in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on A. M. Appraisals to fairly valuate appraisal reports completed by others. And those others could be evaluating our work, too!
When you choose A. M. Appraisals, you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact A. M. Appraisals to learn more about our qualifications, expertise and service offerings.
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