Quality Appraisal Reviews with Floyd Appraisal Works
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers fulfilling reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Floyd Appraisal Works provides appraisal review services that are unbiased, efficient, 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, contact Floyd Appraisal Works today.
According to the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks augment regular reviews with post-funding evaluations of appraisal quality for any of their high-risk or higher-value contracts as a channel to assist in identifying valuation problems."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll produce 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 qualified in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We are aware of what the most frequent inadequacies are, specifically in our housing market, as well as what makes a quality appraisal. Concurrently, we are skilled enough to know that our competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Floyd Appraisal Works to fairly review appraisal reports done by others. And those others could be studying our work, too!
You can depend on Floyd Appraisal Works for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Floyd Appraisal Works regarding our qualifications, expertise and service offerings.