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Appraisal Reviews with TFW Appraisal ServicesAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the prudent for appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." TFW Appraisal Services provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's guidelines.A review appraisal has to find out: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the actions by which the collateral valuation is accomplished ensures independence and quality. The review must also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the scope of the appraisal assignment. Lastly, the Fed says 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 regulations and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At TFW Appraisal Services, we're skilled in every kind of appraisal review, review process and the responsibilities of review appraisers.
In short, here at TFW Appraisal Services, you can have confidence in our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered. |
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We're aware of what constitutes a quality appraisal and what the biggest errors are, especially for reports in our home market.
At the same time, we are proficient enough to admit that the competitors in our market are capable of quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to lawfully valuate appraisal reports carried out by others. And those others might be evaluating our work, too!