As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews must "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Timeline Appraisal Services, LLC provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions regarding an appraisal, call Timeline Appraisal Services, LLC today.
Appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "must indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the scope of the appraisal assignment." The Federal Reserve also notes that "some financial institutions reinforce periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or greater-value dealings as a control to assist in discovering valuation concerns."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll 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 Timeline Appraisal Services, LLC, we are trained in every type of appraisal review, review process and the requirements of review appraisers.
We understand what constitutes a quality appraisal and what the biggest defects are, particularly in our housing market. The professionals at Timeline Appraisal Services, LLC are also trained enough to distinguish that our competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically study appraisal reports done by others. And those others might be studying our work, too!
You can rely on Timeline Appraisal Services, LLC for our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Timeline Appraisal Services, LLC to learn more about our qualifications, expertise and services offered.