Experienced Appraisal Reviews by Shannon Waters-MitchellAs said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers completing reviews are obligated to "have the knowledge and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Shannon Waters-Mitchell, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's regulations. 
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call us today. Appraisal reviews "have to conclude whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the actions by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment routine reviews with post-funding assessments of appraisal quality for a number of their higher-liability or greater-value transactions as a method to aid in addressing valuation problems." In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can develop 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 Shannon Waters-Mitchell, we're experienced in all forms of appraisal reviews, review procedures and the requirements of review appraisers. We are familiar with what represents a quality appraisal and what the greatest weaknesses are, especially in our housing market. We're also experienced enough to admit that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly valuate appraisal reports carried out by others. And those others could be studying our work, too! For professional, impartial, ethical appraisal review services and truthful judgments, you can rely on Shannon Waters-Mitchell. Contact Shannon Waters-Mitchell for more information about our qualifications, expertise and service offerings. |