Qualified Appraisal Reviews with Allied Real Estate Appraisers
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Allied Real Estate Appraisers, we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call Allied Real Estate Appraisers today.
As stated by the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement typical reviews with post-funding evaluations of appraisal quality for a few of their high-risk or larger-value transactions as a means to aid in addressing valuation issues."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will 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 Allied Real Estate Appraisers, we are experienced in every form of appraisal review, review process and the obligations of review appraisers.
We are aware of what the most frequent inadequacies are, especially in our housing market, as well as what represents a quality appraisal. In the same regard, we are experienced enough to realize that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to objectively evaluate appraisal reports carried out by others. And those others might be evaluating our work, too!
You can depend on Allied Real Estate Appraisers for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.