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Experienced Appraisal Reviews with Tonee Rockwell AppraisalAs 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 prudent for appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Tonee Rockwell Appraisal, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.A review appraisal should verify: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the manners by which the property valuation is obtained ensures independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the capacity of the appraisal assignment. Lastly, the Fed also states 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 adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll produce 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 Tonee Rockwell Appraisal, we're experienced in all forms of appraisal reviews, review processes and the requirements of review appraisers.
For professional, impartial, ethical appraisal review services and independent judgments, you can count on Tonee Rockwell Appraisal. Contact us regarding our qualifications, expertise and service offerings. |
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Tonee Rockwell Appraisal knows what the most frequent reporting weaknesses are, especially in our real estate market. We also know what makes a quality appraisal.
The professionals at Tonee Rockwell Appraisal are also sufficiently trained to acknowledge that the competition in our market are skillful in doing a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly review appraisal reports carried out by others. And those others could be evaluating our work, too!