As said in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews should "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Blanton Appraisal Services, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact Blanton Appraisal Services today.
The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their high-risk or greater-value affairs as a means to assist in revealing valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll prepare 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 Blanton Appraisal Services, we're qualified in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
We are aware of what amounts to a quality appraisal and what the most prevalent weaknesses are, specifically in our home market. Concurrently, we're experienced enough to respect that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to objectively study appraisal reports executed by others. And those others might be examining our work, too!
In short, at Blanton Appraisal Services, you can trust our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Blanton Appraisal Services for more information about our qualifications, expertise and service offerings.