As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Timeline Appraisal Services, LLC provides appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call Timeline Appraisal Services, LLC today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. Moreover, they "should signify whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for some of their high-liability or higher-value contracts as a method to help in detecting valuation problems."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 every kind of appraisal review, review process and the obligations of review appraisers.
We're aware of what makes a quality appraisal and what the most common imperfections are, particularly in our real estate market. We're also amply skilled to identify that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Timeline Appraisal Services, LLC to fairly review appraisal reports completed by others. And those others could be examining our work, too!
In short, at Timeline Appraisal Services, LLC, you can count on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.