Qualified Appraisal Reviews with Deer Creek Appraisals
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews are obligated to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." At Deer Creek Appraisals, we provide appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add periodic reviews with post-funding surveys of appraisal quality for any of their higher-risk or large-value dealings as a channel to help in exposing valuation problems."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll produce 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 Deer Creek Appraisals, we're trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We are aware of what the most common imperfections are, particularly in our home market. We also know what constitutes a quality appraisal. We're also amply skilled to distinguish that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Deer Creek Appraisals to lawfully valuate appraisal reports completed by others. And those others may be studying our work, too!
You can trust Deer Creek Appraisals for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Deer Creek Appraisals for more information about our qualifications, expertise and service offerings.