Appraisal Reviews by Greater Orlando Appraisal Assoc., Inc.
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's regulations, contact Greater Orlando Appraisal Assoc., Inc..
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality," according to the Federal Reserve. In addition, they "should indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement typical reviews with post-funding surveys of appraisal quality for a few of their higher-risk or high-value dealings as a means to help in addressing valuation problems."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will 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 Greater Orlando Appraisal Assoc., Inc., we're trained in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
Greater Orlando Appraisal Assoc., Inc. knows what constitutes a quality appraisal and what the most frequent defects are, specifically in our home market. In the same regard, we are adequately trained to realize that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to fairly valuate appraisal reports executed by others. And those others may be examining our work, too!
You can trust Greater Orlando Appraisal Assoc., Inc. for our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.