As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At TNT Appraisal MN, we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
The Federal Reserve says appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks supplement periodic reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value contracts as a way to help in detecting valuation dilemmas."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can formulate 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 TNT Appraisal MN, we're experienced in every type of appraisal review, review practice and the obligations of review appraisers.
We realize what represents a quality appraisal and what the most common imperfections are, particularly in our home market. The professionals at TNT Appraisal MN are also amply skilled to acknowledge that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to fairly look over appraisal reports carried out by others. And those others could be studying our work, too!
In short, when you choose TNT Appraisal MN, you can trust our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.