Appraisal Reviews by Saxton Appraisals, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers completing reviews are obligated to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Saxton Appraisals, Inc., we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "have to determine whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce routine reviews with post-funding surveys of appraisal quality for a few of their high-risk or greater-value contracts as a means to aid in detecting valuation disputes."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can produce 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 Saxton Appraisals, Inc., we are skilled in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Saxton Appraisals, Inc. realizes what amounts to a quality appraisal and what the most common defects are, specifically in our housing market. The professionals at Saxton Appraisals, Inc. are also skilled enough to know that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly assess appraisal reports executed by others. And those others might be examining our work, too!
When you choose Saxton Appraisals, Inc., you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Saxton Appraisals, Inc. regarding our qualifications, expertise and service offerings.