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Complete Appraisal Reviews by Appraisal-One
According to a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers preparing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At Appraisal-One, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the processes by which the collateral valuation is rendered ensures independence and quality.
Moreover, they must signify whether the appraisal or evaluation report is consistent with the engagement letter, which describes the range of the appraisal assignment.
Lastly, the Fed also states 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 need a real estate appraisal review or have questions in reference to an appraisal, call us today. |
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In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we will prepare 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-One, we're skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.
Appraisal-One knows what amounts to a quality appraisal and what the most frequent inadequacies are, specifically when it comes to our home market.
The professionals at Appraisal-One are also trained enough to know that the competition in our market are qualified to do quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Appraisal-One to ethically valuate appraisal reports executed by others. And those others might be evaluating our work, too!
When you choose Appraisal-One, you can have confidence in our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers.
Contact Appraisal-One to learn more about our qualifications, expertise and service offerings.
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