Abbott & Dartt Appraisal Svc Appraisal ReviewsAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers performing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Abbott & Dartt Appraisal Svc provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the process by which the property valuation is attained ensures independence and quality. They must also signify whether the appraisal or evaluation report is compatible with the engagement letter, which describes the scope of the appraisal assignment. The Fed also states 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 adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Abbott & Dartt Appraisal Svc, we are skilled in every type of appraisal review, review process and the responsibilities of review appraisers.
Abbott & Dartt Appraisal Svc realizes what amounts to a quality appraisal and what the greatest defects are, specifically in our local housing market. The professionals at Abbott & Dartt Appraisal Svc are also experienced enough to respect that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Abbott & Dartt Appraisal Svc to ethically assess appraisal reports performed by others. And those others might be examining our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can count on Abbott & Dartt Appraisal Svc. Contact us to learn more about our qualifications, expertise and services offered.