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Savvy Appraisal Reviews with E. Horton & Associates
According to 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 call of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
E. Horton & Associates provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.
The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality.
Moreover, they should indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment.
The Federal Reserve goes on to say 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".
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If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call E. Horton & Associates today. |
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In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At E. Horton & Associates, we are trained in every kind of appraisal review, review process and the responsibilities of review appraisers.
E. Horton & Associates realizes what amounts to a quality appraisal and what the most common deficiencies are, specifically for reports in our local real estate market.
In the same regard, the professionals at E. Horton & Associates are sufficiently skilled to respect that the competitors in our market are qualified to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on E. Horton & Associates to objectively study appraisal reports performed by others. And those others might be examining our work, too!
You can count on E. Horton & Associates for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers.
Contact E. Horton & Associates for more information regarding our qualifications, expertise and services offered.
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