Expert Appraisal Reviews by Deer Creek Appraisals
As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews ought to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Deer Creek Appraisals, we provide appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Deer Creek Appraisals today.
According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality." They "should also signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or greater-value transactions as a control to help in identifying valuation problems."
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll 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 Deer Creek Appraisals, we are trained in every form of appraisal review, review practice and the obligations of review appraisers.
Deer Creek Appraisals understands what the biggest defects are, especially in our home market, as well as what makes a quality appraisal. At the same time, we are experienced enough to acknowledge that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to lawfully look over appraisal reports completed by others. And those others might be evaluating our work, too!
In short, at Deer Creek Appraisals, you can count on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Deer Creek Appraisals for more information regarding our qualifications, expertise and services offered.