Appraisal Reviews by Holbrook and Associates
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews are obligated to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules, contact Holbrook and Associates.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Holbrook and Associates today.
Appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is collected ensures independence and quality," according to the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some banks add routine reviews with post-funding assessments of appraisal quality for a few of their higher-risk or large-value affairs as a means to help in identifying valuation problems."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can 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 Holbrook and Associates, we are skilled in every type of appraisal review, review procedure and the requirements of review appraisers.
Holbrook and Associates knows what the biggest deficiencies are, specifically in our home market, as well as what constitutes a quality appraisal. We're also adequately experienced to realize that our competitors in our market are qualified to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully look over appraisal reports performed by others. And those others may be examining our work, too!
Here at Holbrook and Associates, you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Holbrook and Associates for more information regarding our qualifications, expertise and service offerings.