Quality Appraisal Reviews by Mindi Kitten Appraisals
According to a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at Mindi Kitten Appraisals, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
As stated by the Federal Reserve, appraisal reviews "must verify whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must announce whether the appraisal or evaluation report is true to the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their high-liability or larger-value contracts as a way to help in identifying valuation concerns."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Mindi Kitten Appraisals, we're trained in all types of appraisal reviews, review processes and the obligations of review appraisers.
Mindi Kitten Appraisals realizes what makes a quality appraisal and what the most prevalent defects are, especially in our real estate market. The professionals at Mindi Kitten Appraisals are also skilled enough to know that our competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically valuate appraisal reports executed by others. And those others may be examining our work, too!
At Mindi Kitten Appraisals, you can have confidence in our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Mindi Kitten Appraisals for more information about our qualifications, expertise and services offered.
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