As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." Appraise It, LLC. provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Appraise It, LLC. today.
The Federal Reserve says appraisal reviews "should figure out whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality." In addition, they "must denote whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a control to aid in revealing valuation complications."
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 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. Here at Appraise It, LLC., we're trained in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
We know what the most common defects are, particularly in our housing market. We also know what represents a quality appraisal. Concurrently, we are trained enough to admit that our competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Appraise It, LLC. to ethically review appraisal reports done by others. And those others might be evaluating our work, too!
When you choose Appraise It, LLC., you can have confidence in our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.