As stated in an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." APPRAISAL EXPERTS, LLC provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is attained ensures independence and quality," the Federal Reserve says. In addition, they "should announce whether the appraisal or evaluation report matches the engagement letter, which gives an account of the capacity of the appraisal assignment." The Federal Reserve also says that "some banks augment routine reviews with post-funding surveys of appraisal quality for some of their high-risk or higher-value transactions as a way to aid in discovering valuation complications."
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will prepare 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 APPRAISAL EXPERTS, LLC, we are skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.
We are aware of what the most prevalent defects are, particularly in our home market. We also know what constitutes a quality appraisal. In this regard, we are trained enough to distinguish that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on APPRAISAL EXPERTS, LLC to lawfully valuate appraisal reports carried out by others. And those others may be reviewing our work, too!
In short, here at APPRAISAL EXPERTS, LLC, you can be sure of our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.