As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews must "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations, just contact Timeline Appraisal Services, LLC.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call Timeline Appraisal Services, LLC today.
According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is acquired ensures independence and quality." They "must also signify whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value transactions as a control to help in addressing valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can formulate an appraisal review on any 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 skilled in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
Timeline Appraisal Services, LLC realizes what constitutes a quality appraisal and what the most frequent inadequacies are, particularly in our real estate market. The professionals at Timeline Appraisal Services, LLC are also sufficiently skilled to know that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Timeline Appraisal Services, LLC to objectively examine appraisal reports completed by others. And those others may be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can depend on Timeline Appraisal Services, LLC. Contact Timeline Appraisal Services, LLC to learn more about our qualifications, expertise and service offerings.