Appraisal Reviews by Greater Orlando Appraisal Assoc., Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers fulfilling reviews must "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Greater Orlando Appraisal Assoc., Inc. provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Greater Orlando Appraisal Assoc., Inc. today.
The Federal Reserve says appraisal reviews "must verify whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality." They "must also announce whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for any of their higher-liability or larger-value contracts as a method to aid in revealing valuation complications."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Greater Orlando Appraisal Assoc., Inc., we're qualified in every form of appraisal review, review practice and the obligations of review appraisers.
We know what constitutes a quality appraisal and what the most common defects are, especially in our home market. The professionals at Greater Orlando Appraisal Assoc., Inc. are also amply experienced to know that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Greater Orlando Appraisal Assoc., Inc. to objectively look over appraisal reports performed by others. And those others could be reviewing our work, too!
In short, here at Greater Orlando Appraisal Assoc., Inc., you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.