As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers performing reviews have to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's guidelines, just contact Mike Noble Appraisals.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Mike Noble Appraisals today.
According to the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality." They "should also signify whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some banks add regular reviews with post-funding evaluations of appraisal quality for a few of their high-risk or larger-value dealings as a method to assist in identifying valuation complications."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Mike Noble Appraisals, we're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
We are familiar with what amounts to a quality appraisal and what the greatest defects are, especially in our real estate market. We're also amply skilled to distinguish that our competition 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 Mike Noble Appraisals to justly assess appraisal reports carried out by others. And those others could be evaluating our work, too!
Here at Mike Noble Appraisals, you can be sure of our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Mike Noble Appraisals to learn more about our qualifications, expertise and services offered.