Qualified Appraisal Reviews with Irvine Appraising Company
According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Irvine Appraising Company, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for any of their high-liability or large-value dealings as a control to aid in identifying valuation issues."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will develop 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're trained in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Irvine Appraising Company is aware of what constitutes a quality appraisal and what the most prevalent imperfections are, specifically in our home market. The professionals at Irvine Appraising Company are also amply experienced to recognize that the competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Irvine Appraising Company to fairly study appraisal reports completed by others. And those others might be studying our work, too!
Here at Irvine Appraising Company, you can trust our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Irvine Appraising Company to learn more about our qualifications, expertise and services offered.