Holloway Appraisals, LLC Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions must have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Holloway Appraisals, LLC provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Holloway Appraisals, LLC today.
Appraisal reviews "must decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is accomplished guarantees independence and quality," as stated by the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions supplement routine reviews with post-funding assessments of appraisal quality for a number of their high-liability or high-value affairs as a means to assist in discovering valuation issues."
In addition to coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll 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 Holloway Appraisals, LLC, we are skilled in every type of appraisal review, review process and the responsibilities of review appraisers.
Holloway Appraisals, LLC understands what the most prevalent deficiencies are, specifically in our real estate market. We also understand what constitutes a quality appraisal. We're also trained enough to respect that the competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to lawfully study appraisal reports performed by others. And those others may be evaluating our work, too!
Here at Holloway Appraisals, LLC, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.