Qualified Appraisal Reviews by TLM Appraisal Services
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews should "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." TLM Appraisal Services provides appraisal review services that are impartial, qualified, 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, call TLM Appraisal Services today.
According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the capacity of the appraisal assignment." The Federal Reserve also says that "some banks reinforce typical reviews with post-funding evaluations of appraisal quality for a few of their high-liability or large-value transactions as a channel to assist in exposing valuation dilemmas."
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at TLM Appraisal Services, we're experienced in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
We realize what the most frequent deficiencies are, particularly in our housing market. We also understand what constitutes a quality appraisal. Concurrently, we're professional enough to realize that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on TLM Appraisal Services to ethically examine appraisal reports performed by others. And those others could be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and truthful judgments, you can rely on TLM Appraisal Services. Contact us for more information about our qualifications, expertise and services offered.