As stated in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Arnold Appraisal Service provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact Arnold Appraisal Service today.
According to the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is attained guarantees independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value dealings as a method to help in discovering valuation problems."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Arnold Appraisal Service, we are qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are aware of what the biggest inadequacies are, especially in our housing market. We also know what amounts to a quality appraisal. Concurrently, we're professional enough to admit that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Arnold Appraisal Service to objectively review appraisal reports done by others. And those others may be reviewing our work, too!
You can count on Arnold Appraisal Service for our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.