Appraisals 101, LLC Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations, just contact Appraisals 101, LLC.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "ought to verify whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the outlook of the appraisal assignment." The Federal Reserve also says that "some institutions add periodic reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value dealings as a method to aid in detecting valuation disputes."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll 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. Here at Appraisals 101, LLC, we're qualified in every form of appraisal review, review practice and the requirements of review appraisers.
We are aware of what makes a quality appraisal and what the most common weaknesses are, particularly in our real estate market. In the same sense, we are professional enough to distinguish that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Appraisals 101, LLC to ethically valuate appraisal reports carried out by others. And those others could be examining our work, too!
You can depend on Appraisals 101, LLC for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.