Skilled Appraisal Reviews
by APPRAISAL PROVIDERSAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers engaged in reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At APPRAISAL PROVIDERS, we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's guidelines.
A review appraisal should verify: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the methods by which the real estate valuation is acquired guarantees independence and quality. They should also announce whether the appraisal or evaluation report is true to the letter of engagement, which describes the range of the appraisal assignment. The Federal Reserve also goes on to say 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 tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can prepare 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 PROVIDERS, we're experienced in every type of appraisal review, review practice and the obligations of review appraisers.
We realize what the most prevalent reporting inadequacies are, especially in our real estate market. We also know what constitutes a quality appraisal. In the same regard, we're experienced enough to respect that the competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on APPRAISAL PROVIDERS to fairly study appraisal reports done by others. And those others could be reviewing our work, too!
You can count on APPRAISAL PROVIDERS for our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact APPRAISAL PROVIDERS for more information regarding our qualifications, expertise and service offerings.
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