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Appraisal Reviews by McDannold Appraisals, LLCAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the responsibility of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at McDannold Appraisals, LLC, we provide appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's rules.A review appraisal should ascertain: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the manners by which the real estate valuation is acquired ensures independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment. The Federal Reserve also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At McDannold Appraisals, LLC, we are trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
When you choose McDannold Appraisals, LLC, you can be sure of our truthful 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. |
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McDannold Appraisals, LLC understands what the most prevalent report deficiencies are, particularly in our real estate market, as well as what represents a quality appraisal.
In this regard, we're skilled enough to identify that our competition in our market are qualified to do a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly valuate appraisal reports completed by others. And those others may be reviewing our work, too!