As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation programs," and that appraisers doing reviews should "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations, look no further than Zandonatti Appraisal.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact Zandonatti Appraisal today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also denote whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add typical reviews with post-funding assessments of appraisal quality for some of their higher-liability or high-value contracts as a way to assist in discovering valuation concerns."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 Zandonatti Appraisal, we are skilled in every kind of appraisal review, review practice and the obligations of review appraisers.
We know what the biggest imperfections are, particularly in our home market, as well as what amounts to a quality appraisal. The professionals at Zandonatti Appraisal are also amply skilled to identify that the competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully examine appraisal reports carried out by others. And those others could be examining our work, too!
In short, at Zandonatti Appraisal, you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.