Appraisal Reviews by Desert Sky Appraisers
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, expert, professional and in line with the Federal Reserve's rules, contact Desert Sky Appraisers.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Desert Sky Appraisers today.
Appraisal reviews "have to verify whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also denote whether the appraisal or evaluation report matches the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for some of their higher-liability or large-value transactions as a way to aid in revealing valuation disputes."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will develop 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 Desert Sky Appraisers, we are qualified in every kind of appraisal review, review practice and the requirements of review appraisers.
We know what the most frequent deficiencies are, particularly in our home market. We also know what represents a quality appraisal. Concurrently, the professionals at Desert Sky Appraisers are adequately experienced to recognize that our competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to objectively review appraisal reports performed by others. And those others might be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can count on Desert Sky Appraisers. Contact Desert Sky Appraisers regarding our qualifications, expertise and services offered.