Qualified Appraisal Reviews with TNC Appraisal Service, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the knowledge and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at TNC Appraisal Service, Inc., we provide appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, contact us today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is acquired guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or greater-value contracts as a means to assist in revealing valuation issues."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will 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. At TNC Appraisal Service, Inc., we are skilled in every type of appraisal review, review practice and the obligations of review appraisers.
We realize what the most prevalent defects are, especially in our real estate market. We also know what makes a quality appraisal. At the same time, we are experienced enough to distinguish that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to justly look over appraisal reports performed by others. And those others may be reviewing our work, too!
In short, when you choose TNC Appraisal Service, Inc., you can be sure of our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact TNC Appraisal Service, Inc. for more information regarding our qualifications, expertise and services offered.