According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Appraisal Quest Co. (805) 469-3088, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Appraisal Quest Co. (805) 469-3088 today.
As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement regular reviews with post-funding evaluations of appraisal quality for a few of their high-liability or high-value transactions as a method to assist in exposing valuation issues."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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 Appraisal Quest Co. (805) 469-3088, we're experienced in every form of appraisal review, review process and the obligations of review appraisers.
Appraisal Quest Co. (805) 469-3088 understands what makes a quality appraisal and what the most prevalent imperfections are, specifically in our housing market. In the same sense, we're amply trained to distinguish that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly assess appraisal reports completed by others. And those others could be examining our work, too!
You can depend on Appraisal Quest Co. (805) 469-3088 for our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Appraisal Quest Co. (805) 469-3088 regarding our qualifications, expertise and service offerings.