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Savvy Appraisal Reviews with Turley Appraisal ServiceAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the obligation of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Turley Appraisal Service provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.A review appraisal has to verify: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the methods by which the real estate valuation is attained guarantees independence and quality. Moreover, they must indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment. Lastly, the Fed also goes on to say 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 tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Turley Appraisal Service, we are experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
For professional, unbiased, ethical appraisal review services and truthful judgments, you can depend on Turley Appraisal Service. Contact us for more information about our qualifications, expertise and service offerings. |
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We're aware of what the most prevalent report deficiencies are, especially in our housing market, as well as what amounts to a quality appraisal.
In the same sense, we're amply skilled to admit that the competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Turley Appraisal Service to objectively valuate appraisal reports performed by others. And those others may be examining our work, too!