Experienced Appraisal Reviews by Polygon Appraisals
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules, look no further than Polygon Appraisals.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Polygon Appraisals today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is collected ensures independence and quality." They "must also denote whether the appraisal or evaluation report matches the letter of engagement, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment periodic reviews with post-funding assessments of appraisal quality for a number of their high-risk or higher-value contracts as a way to aid in discovering valuation disputes."
In addition to conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can produce 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 Polygon Appraisals, we're skilled in every type of appraisal review, review practice and the responsibilities of review appraisers.
We realize what constitutes a quality appraisal and what the greatest deficiencies are, specifically in our real estate market. In this regard, the professionals at Polygon Appraisals are sufficiently experienced to know that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Polygon Appraisals to lawfully examine appraisal reports done by others. And those others might be examining our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can rely on Polygon Appraisals. Contact us for more information regarding our qualifications, expertise and services offered.