Anglum Appraisal Appraisal ReviewsAs said in 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 performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Anglum Appraisal provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the methods by which the collateral valuation is acquired ensures independence and quality. In addition, they should signify whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the outlook of the appraisal assignment. Lastly, 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".
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will prepare 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 Anglum Appraisal, we're experienced in all forms of appraisal reviews, review practices and the requirements of review appraisers.
Anglum Appraisal understands what amounts to a quality appraisal and what the greatest imperfections are, specifically in our home market. The professionals at Anglum Appraisal are also amply trained to distinguish that the competition in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Anglum Appraisal to lawfully study appraisal reports done by others. And those others could be examining our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can rely on Anglum Appraisal. Contact us for more information about our qualifications, expertise and service offerings.