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Getting a second opinion on an appraisal
As said in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers doing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at M.C. Appraisals, Inc. (410) 827-0771, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the processes by which the collateral valuation is accomplished guarantees independence and quality.
They must also indicate whether the appraisal or evaluation report matches the engagement letter, which sets forth the reach of the appraisal assignment.
Lastly, the Federal Reserve also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
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If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today. |
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In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll 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 M.C. Appraisals, Inc. (410) 827-0771, we're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
M.C. Appraisals, Inc. (410) 827-0771 realizes what makes a quality appraisal and what the greatest imperfections are, specifically for reports in our local real estate market.
In the same sense, the professionals at M.C. Appraisals, Inc. (410) 827-0771 are adequately skilled to recognize that our competitors in our market are able to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully evaluate appraisal reports done by others. And those others may be examining our work, too!
In short, here at M.C. Appraisals, Inc. (410) 827-0771, you can count on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients.
Contact us to learn more about our qualifications, expertise and services offered.
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