Appraisal Reviews with Mindi Kitten Appraisals
According to a statement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Mindi Kitten Appraisals provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call Mindi Kitten Appraisals today.
As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality." Moreover, they "should denote whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also says that "some institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or larger-value transactions as a method to help in identifying valuation disputes."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically 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 Mindi Kitten Appraisals, we're skilled in all types of appraisal reviews, review procedures and the obligations of review appraisers.
Mindi Kitten Appraisals realizes what constitutes a quality appraisal and what the most common imperfections are, especially in our real estate market. In this regard, we are experienced enough to recognize that the competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to objectively valuate appraisal reports performed by others. And those others could be evaluating our work, too!
In short, here at Mindi Kitten Appraisals, you can be sure of our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.
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