Appraisal Reviews by Floyd Appraisal Works
As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers doing reviews have to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules, look no further than Floyd Appraisal Works.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact us today.
Appraisal reviews "should conclude whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or higher-value affairs as a way to aid in discovering valuation problems."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll prepare 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're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
Floyd Appraisal Works understands what constitutes a quality appraisal and what the greatest imperfections are, specifically in our housing market. The professionals at Floyd Appraisal Works are also amply skilled to identify that the competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Floyd Appraisal Works to justly assess appraisal reports completed by others. And those others might be studying our work, too!
In short, at Floyd Appraisal Works, you can trust our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.