Appraisal Reviews with NC Appraisal Center
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers completing reviews have to "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at NC Appraisal Center, we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions regarding an appraisal, contact NC Appraisal Center today.
As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality." They "should also denote whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for a few of their high-risk or greater-value dealings as a means to assist in exposing valuation complications."
In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can 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 NC Appraisal Center, we're skilled in every form of appraisal review, review practice and the responsibilities of review appraisers.
We are familiar with what the most prevalent inadequacies are, especially in our housing market, as well as what makes a quality appraisal. In the same regard, we are proficient enough to distinguish that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on NC Appraisal Center to fairly review appraisal reports completed by others. And those others could be evaluating our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can depend on NC Appraisal Center. Contact us for more information regarding our qualifications, expertise and services offered.