Appraisal Reviews with Desert Sky Appraisers
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews should "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are objective, expert, professional and in line with the Federal Reserve's guidelines, look no further than Desert Sky Appraisers.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is acquired guarantees independence and quality," as stated by the Federal Reserve. They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also says that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their high-risk or high-value contracts as a means to assist in detecting valuation issues."
In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will 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. Here at Desert Sky Appraisers, we're qualified in all forms of appraisal reviews, review processes and the obligations of review appraisers.
We understand what makes a quality appraisal and what the most prevalent defects are, particularly in our real estate market. In the same regard, we are trained enough to identify that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Desert Sky Appraisers to ethically look over appraisal reports done by others. And those others might be evaluating our work, too!
In short, at Desert Sky Appraisers, you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Desert Sky Appraisers for more information about our qualifications, expertise and service offerings.