Quality Appraisal Reviews with Deer Creek Appraisals
According to an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Deer Creek Appraisals provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. In addition, they "must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement periodic reviews with post-funding assessments of appraisal quality for a number of their high-liability or larger-value contracts as a means to assist in exposing valuation dilemmas."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can prepare 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 Deer Creek Appraisals, we're experienced in all types of appraisal reviews, review practices and the requirements of review appraisers.
We realize what the most common deficiencies are, especially in our home market, as well as what constitutes a quality appraisal. We're also trained enough to realize that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Deer Creek Appraisals to justly assess appraisal reports done by others. And those others might be studying our work, too!
You can depend on Deer Creek Appraisals for our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Deer Creek Appraisals regarding our qualifications, expertise and service offerings.