Timeline Appraisal Services, LLC Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers fulfilling reviews ought to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Timeline Appraisal Services, LLC, we provide appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call us today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. They "should also show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve states that "some banks augment typical reviews with post-funding assessments of appraisal quality for a few of their high-risk or large-value contracts as a channel to assist in identifying valuation complications."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will develop 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're experienced in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We understand what the biggest defects are, particularly in our home market. We also understand what makes a quality appraisal. The professionals at Timeline Appraisal Services, LLC are also experienced enough to recognize that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to fairly look over appraisal reports completed by others. And those others could be evaluating our work, too!
Here at Timeline Appraisal Services, LLC, you can count on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.