Appraisal Reviews with Mike Noble Appraisals
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, just contact Mike Noble Appraisals.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "ought to 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 obtained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement routine reviews with post-funding evaluations of appraisal quality for any of their higher-liability or large-value dealings as a way to assist in addressing valuation concerns."
In addition to conforming our work to the forms 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 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 skilled in every kind of appraisal review, review process and the requirements of review appraisers.
We understand what the greatest imperfections are, particularly in our real estate market. We also understand what makes a quality appraisal. We're also trained enough to know that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Mike Noble Appraisals to fairly review appraisal reports carried out by others. And those others might be evaluating our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can depend on Mike Noble Appraisals. Contact us to learn more about our qualifications, expertise and services offered.