Expert Appraisal Reviews by Thornton Appraisal Services
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Thornton Appraisal Services, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact us today.
The Federal Reserve says appraisal reviews "ought to verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is collected guarantees independence and quality." Moreover, they "should show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement typical reviews with post-funding assessments of appraisal quality for some of their high-risk or larger-value affairs as a control to assist in detecting valuation complications."
In addition to tailoring our work to the forms 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. Here at Thornton Appraisal Services, we are experienced in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what makes a quality appraisal and what the most frequent defects are, especially in our home market. We're also amply skilled to admit that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Thornton Appraisal Services to fairly evaluate appraisal reports done by others. And those others might be reviewing our work, too!
Here at Thornton Appraisal Services, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.