Qualified Appraisal Reviews with Power Appraisals, Inc.
According to an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules, just contact Power Appraisals, Inc..
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "must decide whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. In addition, they "must signify whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce typical reviews with post-funding surveys of appraisal quality for some of their higher-liability or greater-value affairs as a way to assist in discovering valuation dilemmas."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically 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 Power Appraisals, Inc., we're experienced in every type of appraisal review, review practice and the requirements of review appraisers.
We understand what the most prevalent inadequacies are, especially in our housing market, as well as what makes a quality appraisal. We're also adequately experienced to respect that the competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Power Appraisals, Inc. to fairly examine appraisal reports completed by others. And those others could be studying our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can depend on Power Appraisals, Inc.. Contact Power Appraisals, Inc. regarding our qualifications, expertise and service offerings.