Appraisal Reviews with Michael Church Appraisals
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Michael Church, Cert Res RD8306, with 25 Years experience, provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some institutions augment regular reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value contracts as a method to assist in discovering valuation disputes."
In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Michael Church Appraisals, we are experienced in every form of appraisal review, review practice and the responsibilities of review appraisers.
Michael Church Appraisals is aware of what the most frequent defects are, particularly in our real estate market, as well as what amounts to a quality appraisal. As a professional, Michael Church, Cert Res RD8306, is also skilled enough to identify that the competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively study appraisal reports carried out by others. And those others may be examining our work, too!
Here at Michael Church Appraisals, you can rely on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Michael Church Appraisals for more information regarding our qualifications, 25 years of expertise and services offered in a multi-state environment.