Quality Appraisal Reviews with Floyd Appraisal Works

According to an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews have to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Floyd Appraisal Works, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.

If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Floyd Appraisal Works today.

The Federal Reserve says appraisal reviews "ought to conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality." In addition, they "must show whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value transactions as a control to help in addressing valuation disputes."

In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Floyd Appraisal Works, we are experienced in all forms of appraisal reviews, review processes and the obligations of review appraisers.

Floyd Appraisal Works is aware of what constitutes a quality appraisal and what the most prevalent deficiencies are, specifically in our housing market. The professionals at Floyd Appraisal Works are also experienced enough to realize that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Floyd Appraisal Works to objectively evaluate appraisal reports completed by others. And those others might be examining our work, too!

In short, here at Floyd Appraisal Works, you can have confidence in our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.