Appraisal Reviews by Yates Appraisal ServicesAccording to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews are obligated to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Yates Appraisal Services provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules. 
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today. Appraisal reviews "should decide whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "should also signify whether the appraisal or evaluation report is even with the letter of engagement, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions augment typical reviews with post-funding assessments of appraisal quality for a number of their high-liability or large-value transactions as a way to assist in discovering valuation complications." In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll formulate 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 Yates Appraisal Services, we are skilled in all types of appraisal reviews, review practices and the requirements of review appraisers. We are aware of what the most frequent inadequacies are, especially in our housing market. We also understand what makes a quality appraisal. We're also trained enough to recognize that our competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to objectively examine appraisal reports completed by others. And those others could be evaluating our work, too! In short, here at Yates Appraisal Services, you can rely on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Yates Appraisal Services for more information about our qualifications, expertise and service offerings. |