Expert Appraisal Reviews by Floyd Appraisal Works Inc
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews should "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Floyd Appraisal Works Inc, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "should show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some banks add regular reviews with post-funding assessments of appraisal quality for a number of their higher-risk or greater-value contracts as a control to help in detecting valuation complications."
In addition to adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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 Inc, we are experienced in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We're aware of what the most common defects are, specifically in our real estate market, as well as what constitutes a quality appraisal. The professionals at Floyd Appraisal Works Inc are also amply skilled to distinguish that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Floyd Appraisal Works Inc to justly look over appraisal reports executed by others. And those others could be evaluating our work, too!
You can rely on Floyd Appraisal Works Inc for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Floyd Appraisal Works Inc for more information about our qualifications, expertise and service offerings.