Quality Appraisal Reviews by APPRAISAL EXPERTS, LLC
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the familiarity and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at APPRAISAL EXPERTS, LLC, we provide appraisal review services that are impartial, qualified, professional and in line with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "should find out whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "should also indicate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some banks augment periodic reviews with post-funding surveys of appraisal quality for any of their high-liability or larger-value dealings as a means to help in identifying valuation concerns."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can 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. At APPRAISAL EXPERTS, LLC, we are skilled in every type of appraisal review, review process and the obligations of review appraisers.
We know what amounts to a quality appraisal and what the biggest imperfections are, particularly in our real estate market. We're also adequately trained to respect that the competitors in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively examine appraisal reports executed by others. And those others may be evaluating our work, too!
You can depend on APPRAISAL EXPERTS, LLC for our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.