Quality Appraisal Reviews with Saxton Appraisals, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact Saxton Appraisals, Inc. today.
The Federal Reserve says appraisal reviews "have to determine whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is obtained ensures independence and quality." In addition, they "must show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions add typical reviews with post-funding surveys of appraisal quality for a number of their higher-risk or greater-value dealings as a control to assist in identifying valuation disputes."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Saxton Appraisals, Inc., we are qualified in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
Saxton Appraisals, Inc. is aware of what the most frequent deficiencies are, especially in our housing market, as well as what represents a quality appraisal. The professionals at Saxton Appraisals, Inc. are also trained enough to know that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Saxton Appraisals, Inc. to objectively study appraisal reports done by others. And those others may be reviewing our work, too!
Here at Saxton Appraisals, Inc., you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.