Qualified Appraisal Reviews by Accufast Appraisal Services, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Accufast Appraisal Services, Inc. provides appraisal review services that are independent, qualified, 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, contact us today.
According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is collected guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce periodic reviews with post-funding surveys of appraisal quality for any of their higher-liability or higher-value affairs as a method to assist in revealing valuation issues."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Accufast Appraisal Services, Inc., we are skilled in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
We know what the most common weaknesses are, especially in our home market. We also know what makes a quality appraisal. At the same time, we are professional enough to distinguish that the competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to objectively study appraisal reports completed by others. And those others may be examining our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can rely on Accufast Appraisal Services, Inc.. Contact us for more information regarding our qualifications, expertise and service offerings.