Appraisal ReviewsAccording to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews ought to "have the ability and skills to determine compliance with the Federal Reserves appraisal rules and guidelines." At Michael Flores, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's regulations. 
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today. According to the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is attained guarantees independence and quality." They "must also demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the range of the appraisal assignment." Last, The Federal Reserve states that "some banks augment routine reviews with post-funding assessments of appraisal quality for a few of their higher-liability or higher-value dealings as a control to help in identifying valuation disputes." 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 produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Michael Flores, we are experienced in every form of appraisal review, review procedure and the obligations of review appraisers. Michael Flores understands what the most prevalent inadequacies are, especially in our real estate market. We also understand what constitutes a quality appraisal. The professionals at Michael Flores are also skilled enough to know that our competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to justly evaluate appraisal reports completed by others. And those others may be reviewing our work, too! For professional, unbiased, ethical appraisal review services and truthful judgments, you can count on Michael Flores. Contact Michael Flores for more information regarding our qualifications, expertise and services offered. |