Quality Appraisal Reviews by Ihns Appraisal Inc.
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Ihns Appraisal Inc., we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Ihns Appraisal Inc. today.
Appraisal reviews "should figure out whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions supplement routine reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value dealings as a channel to aid in addressing valuation issues."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can formulate 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 Ihns Appraisal Inc., we are skilled in all types of appraisal reviews, review procedures and the obligations of review appraisers.
We are familiar with what amounts to a quality appraisal and what the biggest defects are, specifically in our housing market. In this regard, we are sufficiently skilled to identify that the competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to justly evaluate appraisal reports carried out by others. And those others could be studying our work, too!
In short, at Ihns Appraisal Inc., you can be sure of our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Ihns Appraisal Inc. to learn more about our qualifications, expertise and service offerings.