Experienced Appraisal Reviews with Floyd Appraisal Works
According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's guidelines, look no further than Floyd Appraisal Works.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must decide whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. In addition, they "should signify whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or high-value affairs as a means to help in uncovering valuation dilemmas."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Floyd Appraisal Works, we are trained in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what amounts to a quality appraisal and what the most prevalent defects are, particularly in our real estate market. The professionals at Floyd Appraisal Works are also skilled enough to recognize that the competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to justly look over appraisal reports completed by others. And those others could be examining our work, too!
In short, when you choose Floyd Appraisal Works, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Floyd Appraisal Works for more information regarding our qualifications, expertise and services offered.