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Appraisal And You Appraisal ReviewsAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the responsibility of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Appraisal And You provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the manner by which the property valuation is accomplished ensures independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment. Lastly, the Fed 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".
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If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Appraisal And You today. |
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In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can develop 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 And You, we are experienced in every form of appraisal review, review practice and the requirements of review appraisers.
 We realize what the most frequent reporting deficiencies are, particularly in our home market. We also know what constitutes a quality appraisal. We're also sufficiently skilled to realize that the competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Appraisal And You to fairly review appraisal reports carried out by others. And those others might be examining our work, too!
In short, when you choose Appraisal And You, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Appraisal And You to learn more about our qualifications, expertise and services offered.
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