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Quality Appraisal Reviews by Cheaney Appraisal Service

According to an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Cheaney Appraisal Service provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.

If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.

According to the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is pertinent for the transaction, the uncertainty of the transaction, and whether the manners by which the collateral valuation is acquired guarantees independence and quality." They "should also denote 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 states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for any of their high-liability or high-value affairs as a control to aid in revealing valuation dilemmas."

In addition to conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Cheaney Appraisal Service, we're skilled in every type of appraisal review, review practice and the requirements of review appraisers.

Cheaney Appraisal Service realizes what makes a quality appraisal and what the most prevalent weaknesses are, particularly in our housing market. In the same regard, the professionals at Cheaney Appraisal Service are amply skilled to acknowledge that our competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically evaluate appraisal reports completed by others. And those others may be evaluating our work, too!

At Cheaney Appraisal Service, you can count on our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Cheaney Appraisal Service for more information about our qualifications, expertise and service offerings.