Experienced Appraisal Reviews with Forward Appraisals
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Forward Appraisals provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
According to the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for some of their higher-risk or high-value contracts as a control to assist in discovering valuation problems."
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll 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 Forward Appraisals, we're experienced in every form of appraisal review, review procedure and the obligations of review appraisers.
We are familiar with what the greatest deficiencies are, especially in our real estate market, as well as what amounts to a quality appraisal. The professionals at Forward Appraisals are also trained enough to distinguish that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Forward Appraisals to lawfully evaluate appraisal reports completed by others. And those others could be examining our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can count on Forward Appraisals. Contact Forward Appraisals for more information regarding our qualifications, expertise and services offered.