Quality Appraisal Reviews by A. M. Appraisals
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews ought to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines, look no further than A. M. Appraisals.
If you need a real estate appraisal review or have questions in reference to an appraisal, call us today.
Appraisal reviews "must determine whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. In addition, they "must signify whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or high-value dealings as a means to aid in exposing valuation disputes."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can produce 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 are trained in every kind of appraisal review, review procedure and the requirements of review appraisers.
We understand what makes a quality appraisal and what the most prevalent defects are, particularly in our home market. The professionals at A. M. Appraisals are also trained enough to acknowledge that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust A. M. Appraisals to lawfully look over appraisal reports completed by others. And those others could be reviewing our work, too!
In short, at A. M. Appraisals, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.
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