Qualified Appraisal Reviews with APPRAISAL EXPERTS, LLC
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers performing reviews are obligated to "have the ability and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's regulations, just contact APPRAISAL EXPERTS, LLC.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call APPRAISAL EXPERTS, LLC today.
Appraisal reviews "have to determine whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. In addition, they "should announce whether the appraisal or evaluation report matches the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment regular reviews with post-funding evaluations of appraisal quality for a few of their higher-risk or greater-value contracts as a means to aid in discovering valuation issues."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can 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 APPRAISAL EXPERTS, LLC, we are experienced in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We know what constitutes a quality appraisal and what the biggest defects are, particularly in our real estate market. Concurrently, we're amply trained to admit that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on APPRAISAL EXPERTS, LLC to objectively examine appraisal reports executed by others. And those others may be evaluating our work, too!
In short, at APPRAISAL EXPERTS, LLC, you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.