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Allstate Appraisal Associates, Inc. Appraisal Reviews
According to a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers completing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Allstate Appraisal Associates, Inc. provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.
A review appraisal should ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the method by which the collateral valuation is accomplished guarantees independence and quality.
Moreover, they must signify whether the appraisal or evaluation report matches the letter of engagement, which describes the outlook of the appraisal assignment.
The Federal Reserve also 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".
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If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today. |
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In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will 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 Allstate Appraisal Associates, Inc., we're skilled in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
We realize what makes a quality appraisal and what the greatest deficiencies are, specifically for reports in our local housing market.
Concurrently, the professionals at Allstate Appraisal Associates, Inc. are adequately skilled to admit that our competitors in our market are qualified to do quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Allstate Appraisal Associates, Inc. to objectively valuate appraisal reports done by others. And those others may be studying our work, too!
In short, when you choose Allstate Appraisal Associates, Inc., you can have confidence in our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers.
Contact Allstate Appraisal Associates, Inc. for more information regarding our qualifications, expertise and services offered.
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