Appraisal Reviews by New York AppraisalAccording to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." New York Appraisal provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's guidelines. 
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact New York Appraisal today. Appraisal reviews "ought to find out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-liability or larger-value contracts as a way to help in discovering valuation complications." In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At New York Appraisal, we're trained in all forms of appraisal reviews, review practices and the responsibilities of review appraisers. We're aware of what the most common deficiencies are, specifically in our real estate market. We also understand what amounts to a quality appraisal. At the same time, we are skilled enough to acknowledge that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust New York Appraisal to ethically assess appraisal reports executed by others. And those others could be reviewing our work, too! In short, here at New York Appraisal, you can trust our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact New York Appraisal regarding our qualifications, expertise and service offerings. |
