Appraisal Reviews by Floyd Appraisal Works
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Floyd Appraisal Works provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Floyd Appraisal Works today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. Moreover, they "must denote whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also notes that "some financial institutions augment routine reviews with post-funding surveys of appraisal quality for some of their higher-liability or high-value dealings as a method to aid in uncovering valuation problems."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Floyd Appraisal Works, we are experienced in all forms of appraisal reviews, review practices and the obligations of review appraisers.
Floyd Appraisal Works realizes what the greatest imperfections are, particularly in our housing market. We also understand what makes a quality appraisal. The professionals at Floyd Appraisal Works are also trained enough to acknowledge that the competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Floyd Appraisal Works to fairly look over appraisal reports carried out by others. And those others may be evaluating our work, too!
You can rely on Floyd Appraisal Works for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Floyd Appraisal Works for more information about our qualifications, expertise and services offered.