Experienced Appraisal Reviews by Kent & Associates Appraisal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Kent & Associates Appraisal, we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, contact Kent & Associates Appraisal today.
As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some financial institutions add regular reviews with post-funding assessments of appraisal quality for some of their high-risk or large-value dealings as a means to aid in addressing valuation disputes."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Kent & Associates Appraisal, we're trained in every kind of appraisal review, review process and the obligations of review appraisers.
Kent & Associates Appraisal knows what the most prevalent imperfections are, particularly in our housing market, as well as what makes a quality appraisal. In the same regard, we're professional enough to recognize that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to lawfully valuate appraisal reports performed by others. And those others may be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on Kent & Associates Appraisal. Contact Kent & Associates Appraisal for more information regarding our qualifications, expertise and service offerings.