Appraisal Reviews by Associated Appraisal Services
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Associated Appraisal Services, we provide appraisal review services that are objective, qualified, professional and in line 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, contact Associated Appraisal Services today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce regular reviews with post-funding surveys of appraisal quality for some of their higher-risk or large-value contracts as a means to assist in detecting valuation concerns."
In addition to adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Associated Appraisal Services, we are qualified in every kind of appraisal review, review process and the requirements of review appraisers.
Associated Appraisal Services is aware of what the biggest inadequacies are, particularly in our housing market, as well as what amounts to a quality appraisal. In the same regard, the professionals at Associated Appraisal Services are adequately trained to admit that the competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Associated Appraisal Services to justly valuate appraisal reports completed by others. And those others may be examining our work, too!
You can rely on Associated Appraisal Services for our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.