According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at APPRAISAL EXPERTS, LLC, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions in reference to an appraisal, call us today.
As stated by the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is collected guarantees independence and quality." In addition, they "should signify whether the appraisal or evaluation report matches the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also says that "some banks augment regular reviews with post-funding assessments of appraisal quality for some of their high-liability or greater-value contracts as a way to help in uncovering valuation concerns."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at APPRAISAL EXPERTS, LLC, we're trained in all types of appraisal reviews, review practices and the responsibilities of review appraisers.
APPRAISAL EXPERTS, LLC realizes what the most frequent defects are, particularly in our real estate market. We also know what constitutes a quality appraisal. In the same regard, we're experienced enough to acknowledge that our competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully assess appraisal reports executed by others. And those others might be evaluating our work, too!
In short, here at APPRAISAL EXPERTS, LLC, you can trust our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.