According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Mindi Kitten Appraisals, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Mindi Kitten Appraisals today.
The Federal Reserve says appraisal reviews "must figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is attained ensures independence and quality." They "must also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment." The Federal Reserve also states that "some financial institutions reinforce regular reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value dealings as a means to help in identifying valuation problems."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 qualified in every form of appraisal review, review process and the obligations of review appraisers.
Mindi Kitten Appraisals is aware of what the biggest defects are, especially in our home market, as well as what makes a quality appraisal. Concurrently, we are trained enough to acknowledge that the competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully assess appraisal reports completed by others. And those others might be reviewing our work, too!
In short, here at Mindi Kitten Appraisals, you can trust our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Mindi Kitten Appraisals regarding our qualifications, expertise and service offerings.
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