Mahoney Appraisal Services, Inc Appraisal ReviewsAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers performing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Mahoney Appraisal Services, Inc, we provide appraisal review services that are objective, qualified, professional and square with the Federal Reserve's rules.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the process by which the real estate valuation is attained guarantees independence and quality. In addition, they must announce whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the outlook of the appraisal assignment. The Federal Reserve states 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 coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will produce 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 Mahoney Appraisal Services, Inc, we are skilled in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
We're aware of what the most prevalent reporting imperfections are, particularly in our housing market. We also know what represents a quality appraisal. At the same time, we are amply skilled to respect that our competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically evaluate appraisal reports executed by others. And those others might be evaluating our work, too!
In short, when you choose Mahoney Appraisal Services, Inc, you can trust our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Mahoney Appraisal Services, Inc for more information about our qualifications, expertise and service offerings.