Savvy Appraisal Reviews by ATB Appraisals, Inc.As 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 responsibility of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At ATB Appraisals, Inc., we provide appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the manner by which the property valuation is rendered guarantees independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is in line with the letter of engagement, which describes the scope of the appraisal assignment. Lastly, the Fed also notes 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 forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At ATB Appraisals, Inc., we are skilled in every form of appraisal review, review process and the requirements of review appraisers.
We are familiar with what makes a quality appraisal and what the most common errors are, particularly when it comes to our home market. In the same regard, we are adequately skilled to acknowledge that the competitors in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on ATB Appraisals, Inc. to justly review appraisal reports done by others. And those others may be examining our work, too!
At ATB Appraisals, Inc., you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.