Expert Appraisal Reviews with Carol Huffman
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Carol Huffman, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call Carol Huffman today.
The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality." In addition, they "should show whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." The Federal Reserve also notes that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for some of their high-risk or large-value affairs as a method to assist in detecting valuation problems."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Carol Huffman, we're experienced in every kind of appraisal review, review practice and the requirements of review appraisers.
Carol Huffman is aware of what constitutes a quality appraisal and what the most frequent defects are, specifically in our home market. Concurrently, we're experienced enough to distinguish that the competition in our market are qualified to do a good 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 ethically valuate appraisal reports carried out by others. And those others could be examining our work, too!
When you choose Carol Huffman, you can have confidence in our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Carol Huffman for more information about our qualifications, expertise and services offered.