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Appraisal ReviewsAccording 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 obligation of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Christy Walker Appraisal Service provides appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's guidelines.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is relevant for the transaction, the risk inherit in the transaction, and whether the processes by which the real estate valuation is attained ensures independence and quality. They should also indicate whether the appraisal or evaluation report is in line with the letter of engagement, which describes the depth of the appraisal assignment. Lastly, the Fed 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 regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually 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. Here at Christy Walker Appraisal Service, we're qualified in every type of appraisal review, review process and the obligations of review appraisers.
When you choose Christy Walker Appraisal Service, you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Christy Walker Appraisal Service to learn more about our qualifications, expertise and service offerings. |
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Christy Walker Appraisal Service understands what represents a quality appraisal and what the biggest inadequacies are, particularly in our local real estate market.
Concurrently, we are adequately trained to respect that our competition in our market are able to do a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Christy Walker Appraisal Service to objectively assess appraisal reports executed by others. And those others may be studying our work, too!