Appraisal Reviews by Greater Orlando Appraisal Assoc., Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews are obligated to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Greater Orlando Appraisal Assoc., Inc. provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Greater Orlando Appraisal Assoc., Inc. today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." They "must also indicate whether the appraisal or evaluation report matches the engagement letter, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for some of their high-risk or high-value affairs as a means to assist in discovering valuation issues."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll prepare an appraisal review on any one 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 are qualified in every type of appraisal review, review process and the responsibilities of review appraisers.
Greater Orlando Appraisal Assoc., Inc. knows what the most common defects are, particularly in our real estate market, as well as what constitutes a quality appraisal. In this regard, we're sufficiently experienced to respect that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Greater Orlando Appraisal Assoc., Inc. to objectively look over appraisal reports carried out by others. And those others may be evaluating our work, too!
In short, at Greater Orlando Appraisal Assoc., Inc., you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Greater Orlando Appraisal Assoc., Inc. for more information about our qualifications, expertise and services offered.