Appraisal Reviews with Timely Appraisal Services
According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Timely Appraisal Services, we provide appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Timely Appraisal Services today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the processes 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 matches the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or large-value contracts as a control to assist in exposing valuation dilemmas."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. Here at Timely Appraisal Services, we're qualified in every kind of appraisal review, review process and the responsibilities of review appraisers.
We understand what the most prevalent weaknesses are, specifically in our housing market. We also know what makes a quality appraisal. At the same time, we're adequately skilled to admit that our competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Timely Appraisal Services to objectively look over appraisal reports performed by others. And those others could be examining our work, too!
In short, when you choose Timely Appraisal Services, you can have confidence in our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and service offerings.