profile picture

Quality Appraisal Reviews with (208) 782-0233

As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules, look no further than (208) 782-0233.

If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.

According to the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality." In addition, they "must denote whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or greater-value dealings as a channel to aid in identifying valuation dilemmas."

In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can formulate 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 (208) 782-0233, we're experienced in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.

We understand what amounts to a quality appraisal and what the most prevalent imperfections are, specifically in our housing market. In the same regard, we are experienced enough to distinguish that our competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on (208) 782-0233 to fairly valuate appraisal reports executed by others. And those others might be evaluating our work, too!

In short, when you choose (208) 782-0233, you can rely on our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact (208) 782-0233 to learn more about our qualifications, expertise and service offerings.