Appraisal Reviews by Desert Sky Appraisers
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Desert Sky Appraisers, we provide appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact Desert Sky Appraisers today.
The Federal Reserve says appraisal reviews "should conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality." They "must also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or large-value dealings as a channel to assist in uncovering valuation problems."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can prepare 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 Desert Sky Appraisers, we are experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what the most common weaknesses are, particularly in our housing market. We also know what makes a quality appraisal. In the same sense, we're proficient enough to know that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully study appraisal reports done by others. And those others could be examining our work, too!
You can trust Desert Sky Appraisers for our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Desert Sky Appraisers to learn more about our qualifications, expertise and service offerings.