Appraisal Reviews with Mike Noble Appraisals
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at Mike Noble Appraisals, we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Mike Noble Appraisals today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. Moreover, they "should demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the outlook of the appraisal assignment." Last, The Federal Reserve states that "some banks supplement regular reviews with post-funding assessments of appraisal quality for some of their higher-risk or high-value transactions as a method to aid in revealing valuation disputes."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can formulate 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 Mike Noble Appraisals, we're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
We are aware of what the greatest defects are, particularly in our real estate market. We also know what represents a quality appraisal. The professionals at Mike Noble Appraisals are also trained enough to acknowledge that the competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Mike Noble Appraisals to fairly evaluate appraisal reports done by others. And those others might be studying our work, too!
In short, here at Mike Noble Appraisals, you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Mike Noble Appraisals to learn more about our qualifications, expertise and service offerings.