As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews are obligated to "have the familiarity and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, just contact Coker Appraisers, Inc..
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for some of their high-risk or larger-value affairs as a way to help in addressing valuation dilemmas."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll 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. At Coker Appraisers, Inc., we're qualified in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We're aware of what the greatest defects are, especially in our housing market. We also understand what makes a quality appraisal. We're also sufficiently experienced to identify that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly review appraisal reports performed by others. And those others may be studying our work, too!
In short, here at Coker Appraisers, Inc., you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Coker Appraisers, Inc. for more information regarding our qualifications, expertise and services offered.