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Competent Appraisal Reviews with Thomas Residential/Commercial Appraisal Company, Inc.According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the prudent for appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Thomas Residential/Commercial Appraisal Company, Inc., we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the procedures by which the real estate valuation is rendered ensures independence and quality. Moreover, they must signify whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the extent of the appraisal assignment. The Fed also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can 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 Thomas Residential/Commercial Appraisal Company, Inc., we are qualified in every form of appraisal review, review process and the responsibilities of review appraisers.
You can count on Thomas Residential/Commercial Appraisal Company, Inc. for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Thomas Residential/Commercial Appraisal Company, Inc. regarding our qualifications, expertise and services offered. |
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Thomas Residential/Commercial Appraisal Company, Inc. knows what the most common reporting imperfections are, specifically in our home market. We also understand what constitutes a quality appraisal.
In the same sense, we are professional enough to distinguish that the competition in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Thomas Residential/Commercial Appraisal Company, Inc. to fairly study appraisal reports done by others. And those others might be evaluating our work, too!