Appraisal Reviews with Kordik & Associates, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines, just contact Kordik & Associates, Inc..
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to conclude whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is attained guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for any of their high-risk or greater-value affairs as a way to assist in discovering valuation complications."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can develop 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 Kordik & Associates, Inc., we are skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.
We know what the most common imperfections are, especially in our housing market, as well as what constitutes a quality appraisal. In the same sense, we're sufficiently skilled to respect that the competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Kordik & Associates, Inc. to ethically look over appraisal reports carried out by others. And those others might be studying our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can depend on Kordik & Associates, Inc.. Contact us for more information about our qualifications, expertise and services offered.