Appraisal Reviews by TK Valuations, Inc.
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers doing reviews should "have the proficiency and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." At TK Valuations, Inc., we provide appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "must verify whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is accomplished guarantees independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is even with the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for some of their higher-liability or higher-value affairs as a control to help in addressing valuation issues."
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 can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At TK Valuations, Inc., we're qualified in every type of appraisal review, review process and the obligations of review appraisers.
We are familiar with what amounts to a quality appraisal and what the biggest weaknesses are, especially in our housing market. At the same time, we're amply experienced to identify that the competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on TK Valuations, Inc. to objectively assess appraisal reports done by others. And those others might be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can count on TK Valuations, Inc.. Contact us to learn more about our qualifications, expertise and service offerings.