Appraisal Reviews with Mike Noble Appraisals
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations, look no further than Mike Noble Appraisals.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact Mike Noble Appraisals today.
As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality." They "must also show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the scope of the appraisal assignment." The Federal Reserve also notes that "some institutions supplement regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or high-value contracts as a method to help in detecting valuation complications."
In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop 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 are trained in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We know what the most frequent imperfections are, specifically in our home market, as well as what constitutes a quality appraisal. Concurrently, we're amply skilled to acknowledge that our competitors in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively study appraisal reports executed by others. And those others might be reviewing our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can depend on Mike Noble Appraisals. Contact Mike Noble Appraisals to learn more about our qualifications, expertise and service offerings.