Qualified Appraisal Reviews by Boston Mountain Real Estate
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews should "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's guidelines, look no further than Boston Mountain Real Estate.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Boston Mountain Real Estate today.
As stated by the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is acquired ensures independence and quality." Moreover, they "should signify whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their high-liability or high-value contracts as a method to assist in discovering valuation dilemmas."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually 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 Boston Mountain Real Estate, we are skilled in every kind of appraisal review, review practice and the obligations of review appraisers.
We're aware of what the most prevalent imperfections are, specifically in our real estate market. We also know what constitutes a quality appraisal. In the same sense, we are amply skilled to realize that our competition in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Boston Mountain Real Estate to fairly study appraisal reports performed by others. And those others could be evaluating our work, too!
When you choose Boston Mountain Real Estate, you can have confidence in our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.