Appraisal Reviews by Accufast Appraisal Services, Inc.
According to a statement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Accufast Appraisal Services, Inc. provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
Appraisal reviews "have to figure out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the practices by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. They "should also show whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for some of their higher-risk or large-value dealings as a way to help in discovering valuation problems."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will formulate 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 Accufast Appraisal Services, Inc., we're experienced in every form of appraisal review, review practice and the responsibilities of review appraisers.
Accufast Appraisal Services, Inc. realizes what the biggest deficiencies are, particularly in our housing market, as well as what makes a quality appraisal. In the same regard, we are sufficiently trained to recognize that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically look over appraisal reports executed by others. And those others could be reviewing our work, too!
You can trust Accufast Appraisal Services, Inc. for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Accufast Appraisal Services, Inc. regarding our qualifications, expertise and service offerings.