Appraisal Reviews with Timeline Appraisal Services, LLC
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At Timeline Appraisal Services, LLC, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Timeline Appraisal Services, LLC today.
Appraisal reviews "have to find out whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must announce whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks supplement routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or greater-value contracts as a control to assist in exposing valuation issues."
In addition to conforming our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are typically 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. Here at Timeline Appraisal Services, LLC, we are trained in every form of appraisal review, review process and the requirements of review appraisers.
We know what the most prevalent weaknesses are, particularly in our housing market. We also know what constitutes a quality appraisal. In this regard, we're sufficiently skilled to distinguish that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Timeline Appraisal Services, LLC to objectively valuate appraisal reports carried out by others. And those others may be examining our work, too!
You can rely on Timeline Appraisal Services, LLC for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Timeline Appraisal Services, LLC for more information regarding our qualifications, expertise and service offerings.