Sunrise Appraisal Services Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's rules, just contact Sunrise Appraisal Services.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
Appraisal reviews "have to find out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve notes that "some banks reinforce typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or large-value transactions as a means to aid in identifying valuation problems."
In addition to adjusting 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 prepare 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 Sunrise Appraisal Services, we are trained in every form of appraisal review, review procedure and the requirements of review appraisers.
We know what the biggest defects are, particularly in our housing market, as well as what amounts to a quality appraisal. We're also experienced enough to admit that the competitors in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Sunrise Appraisal Services to justly review appraisal reports completed by others. And those others might be examining our work, too!
You can rely on Sunrise Appraisal Services for our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.