Quality Appraisal Reviews with CALI Real Estate Appraisals
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules, just contact CALI Real Estate Appraisals.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "have to decide whether the appraisal or evaluation is pertinent for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected guarantees independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report matches the engagement letter, which gives an account of the range of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding surveys of appraisal quality for a few of their higher-liability or large-value dealings as a control to aid in revealing valuation concerns."
In addition to adapting 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 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 CALI Real Estate Appraisals, we are experienced in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what the most common weaknesses are, especially in our real estate market, as well as what makes a quality appraisal. The professionals at CALI Real Estate Appraisals are also experienced enough to distinguish that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on CALI Real Estate Appraisals to fairly examine appraisal reports carried out by others. And those others may be evaluating our work, too!
In short, at CALI Real Estate Appraisals, you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact CALI Real Estate Appraisals regarding our qualifications, expertise and service offerings.