Appraisal Reviews by Gateway Appraisals Ltd.
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, look no further than Gateway Appraisals Ltd..
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "have to decide whether the appraisal or evaluation is applicable 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 denote whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for any of their higher-risk or large-value contracts as a way to aid in identifying valuation concerns."
In addition to adapting our work to the practices 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Gateway Appraisals Ltd., we are skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.
We are aware of what the biggest weaknesses are, specifically in our real estate market, as well as what represents a quality appraisal. We're also sufficiently skilled to acknowledge that the competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Gateway Appraisals Ltd. to lawfully study appraisal reports carried out by others. And those others may be evaluating our work, too!
Here at Gateway Appraisals Ltd., you can trust our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Gateway Appraisals Ltd. for more information about our qualifications, expertise and service offerings.