Appraisal Reviews by Medina Appraisal Company (330) 220-1700
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, contact Medina Appraisal Company (330) 220-1700.
If you need a real estate appraisal review or have questions in reference to an appraisal, call us today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality," according to the Federal Reserve. Moreover, they "should denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks supplement typical reviews with post-funding surveys of appraisal quality for any of their high-liability or high-value contracts as a means to aid in detecting valuation problems."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we can 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 Medina Appraisal Company (330) 220-1700, we're qualified in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We know what the greatest inadequacies are, particularly in our home market. We also know what constitutes a quality appraisal. The professionals at Medina Appraisal Company (330) 220-1700 are also experienced enough to recognize that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically study appraisal reports done by others. And those others might be studying our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can rely on Medina Appraisal Company (330) 220-1700. Contact Medina Appraisal Company (330) 220-1700 for more information about our qualifications, expertise and service offerings.