Appraisal Reviews with Irvine Appraising Company
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews have to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations, contact Irvine Appraising Company.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "should determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality." In addition, they "must indicate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some banks add regular reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value transactions as a method to assist in identifying valuation dilemmas."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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. Here at Irvine Appraising Company, we are skilled in every type of appraisal review, review process and the requirements of review appraisers.
Irvine Appraising Company understands what the greatest defects are, especially in our home market. We also understand what amounts to a quality appraisal. In the same sense, the professionals at Irvine Appraising Company are adequately trained to distinguish that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Irvine Appraising Company to fairly study appraisal reports carried out by others. And those others could be examining our work, too!
In short, when you choose Irvine Appraising Company, you can count on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Irvine Appraising Company to learn more about our qualifications, expertise and services offered.