Absolute Appraisals, IMI. Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews must "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules, look no further than Absolute Appraisals, IMI..
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "should decide whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must denote whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some banks augment periodic reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value transactions as a means to help in addressing valuation dilemmas."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Absolute Appraisals, IMI., we're qualified in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
Absolute Appraisals, IMI. is aware of what the most common defects are, especially in our housing market. We also know what constitutes a quality appraisal. In this regard, we are sufficiently trained to acknowledge that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Absolute Appraisals, IMI. to justly look over appraisal reports carried out by others. And those others could be reviewing our work, too!
In short, here at Absolute Appraisals, IMI., you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.