Experienced Appraisal Reviews by Express Appraisal Services
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers completing reviews should "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines, look no further than Express Appraisal Services.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "should conclude whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is obtained ensures independence and quality," as stated by the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve states that "some banks add typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or high-value transactions as a control to help in addressing valuation complications."
In addition to conforming 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Express Appraisal Services, we are trained in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
We realize what amounts to a quality appraisal and what the most prevalent weaknesses are, especially in our real estate market. We're also sufficiently experienced to respect that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to objectively valuate appraisal reports done by others. And those others could be studying our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can depend on Express Appraisal Services. Contact Express Appraisal Services regarding our qualifications, expertise and services offered.