Aaron Still Appraisal Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews ought to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Aaron Still Appraisal provides appraisal review services that are objective, expert, professional and square with the Federal Reserve's guidelines.
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 "should find out whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality." They "must also show whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for a few of their high-risk or large-value dealings as a means to assist in exposing valuation problems."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 Aaron Still Appraisal, we are experienced in every form of appraisal review, review process and the obligations of review appraisers.
Aaron Still Appraisal is aware of what the most frequent inadequacies are, particularly in our housing market. We also know what represents a quality appraisal. We're also experienced enough to realize that our competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to justly examine appraisal reports executed by others. And those others could be evaluating our work, too!
When you choose Aaron Still Appraisal, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.