Appraisal Reviews with Floyd Appraisal Works
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews must "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules, contact Floyd Appraisal Works.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Floyd Appraisal Works today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks augment typical reviews with post-funding surveys of appraisal quality for a number of their higher-risk or larger-value contracts as a control to assist in addressing valuation problems."
In addition to tailoring our work to the processes and guidelines of our review customers, 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. Here at Floyd Appraisal Works, we're qualified in every form of appraisal review, review practice and the requirements of review appraisers.
Floyd Appraisal Works understands what the greatest imperfections are, specifically in our home market. We also know what constitutes a quality appraisal. We're also sufficiently experienced to respect that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Floyd Appraisal Works to objectively assess appraisal reports carried out by others. And those others might be examining our work, too!
In short, at Floyd Appraisal Works, you can count on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.