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Experienced Appraisal Reviews by Tyler Newton & AssociatesAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers preparing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Tyler Newton & Associates, we provide appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's regulations.A review appraisal has to ascertain: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the process by which the property valuation is obtained ensures independence and quality. They must also announce whether the appraisal or evaluation report is true to the engagement letter, which sets forth the reach of the appraisal assignment. Lastly, the Federal Reserve says 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 procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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. At Tyler Newton & Associates, we're experienced in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
For professional, fair, ethical appraisal review services and honest judgments, you can depend on Tyler Newton & Associates. Contact Tyler Newton & Associates for more information regarding our qualifications, expertise and service offerings. |
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We understand what the most common reporting weaknesses are, particularly in our housing market. We also know what amounts to a quality appraisal.
The professionals at Tyler Newton & Associates are also amply trained to realize that the competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice, or 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 reviewing our work, too!