Appraisal Reviews by Streamline Appraisals/Tim Taylor Realty
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Streamline Appraisals/Tim Taylor Realty, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions in reference to an appraisal, contact us today.
The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality." They "must also show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions supplement routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or higher-value contracts as a means to assist in exposing valuation problems."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Streamline Appraisals/Tim Taylor Realty, we're skilled in every type of appraisal review, review process and the responsibilities of review appraisers.
Streamline Appraisals/Tim Taylor Realty knows what the biggest weaknesses are, specifically in our housing market. We also understand what amounts to a quality appraisal. We're also sufficiently skilled to recognize that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Streamline Appraisals/Tim Taylor Realty to ethically assess appraisal reports executed by others. And those others may be reviewing our work, too!
In short, at Streamline Appraisals/Tim Taylor Realty, you can count on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.