Appraisal Reviews with Taylor and Associates Appraisal Services, LLC.
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Taylor and Associates Appraisal Services, LLC., we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
The Federal Reserve says appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks add routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or larger-value transactions as a method to help in identifying valuation disputes."
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 produce 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 Taylor and Associates Appraisal Services, LLC., we are qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We are aware of what makes a quality appraisal and what the most common deficiencies are, specifically in our housing market. At the same time, the professionals at Taylor and Associates Appraisal Services, LLC. are adequately skilled to acknowledge that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Taylor and Associates Appraisal Services, LLC. to fairly assess appraisal reports executed by others. And those others might be evaluating our work, too!
You can trust Taylor and Associates Appraisal Services, LLC. for our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Taylor and Associates Appraisal Services, LLC. to learn more about our qualifications, expertise and service offerings.