Appraisal Reviews

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Timely Appraisal Services provides appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's regulations.

If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.

As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is attained guarantees independence and quality." In addition, they "should announce whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook 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 number of their high-risk or greater-value contracts as a channel to assist in exposing valuation dilemmas."

In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will 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 Timely Appraisal Services, we are qualified in all types of appraisal reviews, review processes and the requirements of review appraisers.

Timely Appraisal Services realizes what the most prevalent imperfections are, particularly in our real estate market. We also know what makes a quality appraisal. The professionals at Timely Appraisal Services are also skilled enough to acknowledge that the competitors in our market are capable of 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 justly evaluate appraisal reports executed by others. And those others might be examining our work, too!

In short, when you choose Timely Appraisal Services, you can be sure of our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.