Appraisal Reviews by Meador Group, Inc
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews are obligated to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations, contact Meador Group, Inc.
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. Moreover, they "should announce whether the appraisal or evaluation report is true to the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment typical reviews with post-funding assessments of appraisal quality for a few of their higher-risk or larger-value contracts as a method to assist in detecting valuation complications."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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. At Meador Group, Inc, we are skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We are aware of what constitutes a quality appraisal and what the greatest imperfections are, specifically in our housing market. We're also adequately trained to distinguish that the competitors 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 Meador Group, Inc to objectively study appraisal reports carried out by others. And those others could be reviewing our work, too!
For professional, objective, ethical appraisal review services and truthful judgments, you can depend on Meador Group, Inc. Contact Meador Group, Inc regarding our qualifications, expertise and services offered.