Qualified Appraisal Reviews by Adam's Appraisal Services, Inc
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews have to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's guidelines, contact Adam's Appraisal Services, Inc.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "have to find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality." They "should also announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions augment periodic reviews with post-funding assessments of appraisal quality for some of their high-liability or higher-value contracts as a way to assist in detecting valuation problems."
In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Adam's Appraisal Services, Inc, we are qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We're aware of what the most prevalent imperfections are, particularly in our home market. We also understand what makes a quality appraisal. The professionals at Adam's Appraisal Services, Inc are also trained enough to respect that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Adam's Appraisal Services, Inc to ethically assess appraisal reports done by others. And those others may be evaluating our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can count on Adam's Appraisal Services, Inc. Contact us for more information regarding our qualifications, expertise and services offered.