Appraisal Reviews with Gail Kruglak Appraisals
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Here at Gail Kruglak Appraisals, we provide appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, call us today.
Appraisal reviews "must find out whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or large-value transactions as a way to aid in addressing valuation disputes."
In addition to conforming our work to the procedures and guidelines of our review customers, 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 Gail Kruglak Appraisals, we are experienced in every kind of appraisal review, review process and the obligations of review appraisers.
Gail Kruglak Appraisals realizes what the most prevalent weaknesses are, particularly in our real estate market. We also understand what represents a quality appraisal. Concurrently, the professionals at Gail Kruglak Appraisals are adequately skilled to acknowledge that our competition in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to justly assess appraisal reports carried out by others. And those others may be examining our work, too!
In short, when you choose Gail Kruglak Appraisals, you can be sure of our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Gail Kruglak Appraisals for more information about our qualifications, expertise and services offered.