Experienced Appraisal Reviews with Homeowner Appraisal Services
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 performing reviews should "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Homeowner Appraisal Services, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is acquired ensures independence and quality." They "should also show whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for some of their high-risk or higher-value transactions as a method to assist in revealing valuation concerns."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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 Homeowner Appraisal Services, we're experienced in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We are aware of what represents a quality appraisal and what the most frequent deficiencies are, specifically in our home market. We're also trained enough to recognize that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically look over appraisal reports performed by others. And those others could be evaluating our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can rely on Homeowner Appraisal Services. Contact us to learn more about our qualifications, expertise and service offerings.