Appraisal Reviews with Greater Houston Area Appraisals
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules, contact Greater Houston Area Appraisals.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call Greater Houston Area Appraisals today.
The Federal Reserve says appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is obtained ensures independence and quality." Moreover, they "must demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some institutions supplement regular reviews with post-funding surveys of appraisal quality for a few of their high-liability or higher-value contracts as a way to assist in exposing valuation problems."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can 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. Here at Greater Houston Area Appraisals, we're experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We're aware of what the greatest weaknesses are, especially in our housing market, as well as what amounts to a quality appraisal. We're also experienced enough to distinguish that the competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Greater Houston Area Appraisals to justly assess appraisal reports completed by others. And those others could be evaluating our work, too!
When you choose Greater Houston Area Appraisals, you can be sure of our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Greater Houston Area Appraisals to learn more about our qualifications, expertise and service offerings.