According to a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "should figure out whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "must signify whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some banks add routine reviews with post-funding assessments of appraisal quality for a few of their high-liability or larger-value dealings as a means to assist in detecting 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 primarily 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 Saxton Appraisals, Inc., we're experienced in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
Saxton Appraisals, Inc. realizes what the greatest weaknesses are, particularly in our home market. We also understand what amounts to a quality appraisal. We're also amply experienced to admit that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Saxton Appraisals, Inc. to ethically look over appraisal reports executed by others. And those others could be evaluating our work, too!
At Saxton Appraisals, Inc., you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and service offerings.