Quality Appraisal Reviews by Richard E. Turner

As said in an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Richard E. Turner provides appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's rules.

If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.

The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is collected guarantees 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 outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for a few of their high-liability or large-value dealings as a means to aid in detecting valuation concerns."

In addition to tailoring 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 formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Richard E. Turner, we are trained in every form of appraisal review, review practice and the requirements of review appraisers.

Richard E. Turner understands what the most frequent inadequacies are, especially in our real estate market. We also understand what represents a quality appraisal. In this regard, the professionals at Richard E. Turner are amply trained to identify that the competitors in our market are capable of a fine job. 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 performed by others. And those others may be evaluating our work, too!

At Richard E. Turner, you can be sure of our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.