Quality Appraisal Reviews with Butler Appraisals
According to an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews ought to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines, look no further than Butler Appraisals.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call Butler Appraisals today.
According to the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." They "must also signify whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve says that "some institutions add routine reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or high-value affairs as a means to aid in exposing valuation problems."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will develop 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 Butler Appraisals, we are qualified in all kinds of appraisal reviews, review procedures and the obligations of review appraisers.
We are aware of what the most common weaknesses are, especially in our real estate market, as well as what represents a quality appraisal. We're also amply experienced to admit that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically look over appraisal reports carried out by others. And those others may be studying our work, too!
Here at Butler Appraisals, you can trust our neutral 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.