Quality Appraisal Reviews with Alliance Appraisal Services
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Alliance Appraisal Services, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. They "should also denote whether the appraisal or evaluation report matches the engagement letter, which sets forth the extent of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce routine reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or large-value affairs as a way to assist in discovering valuation issues."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Alliance Appraisal Services, we're experienced in all forms of appraisal reviews, review processes and the obligations of review appraisers.
Alliance Appraisal Services realizes what represents a quality appraisal and what the most common weaknesses are, especially in our home market. In the same regard, the professionals at Alliance Appraisal Services are sufficiently trained to respect that our competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically examine appraisal reports completed by others. And those others might be reviewing our work, too!
In short, at Alliance Appraisal Services, you can be sure of our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.