Appraisal Reviews by Kathy Mathis - Fogle, IFAAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Kathy Mathis - Fogle, IFA, we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's regulations.
A review appraisal should pursue: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the procedure by which the real estate valuation is obtained ensures independence and quality. In addition, they should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment. The Fed goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to tailoring our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Kathy Mathis - Fogle, IFA, we're skilled in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
Kathy Mathis - Fogle, IFA is aware of what the typical report inadequacies are, particularly in our home market, as well as what represents a quality appraisal. Concurrently, we're amply experienced to know that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively assess appraisal reports executed by others. And those others might be studying our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can depend on Kathy Mathis - Fogle, IFA. Contact Kathy Mathis - Fogle, IFA for more information regarding our qualifications, expertise and services offered.