As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews should "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at MFC Home Appraisals Inc, we provide appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact us today.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." They "must also indicate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for any of their high-risk or higher-value transactions as a means to aid in detecting valuation concerns."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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 MFC Home Appraisals Inc, we are trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We are aware of what makes a quality appraisal and what the most common inadequacies are, especially in our real estate market. The professionals at MFC Home Appraisals Inc are also trained enough to distinguish that the competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly assess appraisal reports carried out by others. And those others might be studying our work, too!
Here at MFC Home Appraisals Inc, you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact MFC Home Appraisals Inc to learn more about our qualifications, expertise and service offerings.