Appraisal Reviews by Appraisal Network, Corp.
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the proficiency and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's rules, look no further than Appraisal Network, Corp..
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "must verify whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is accomplished ensures independence and quality," according to the Federal Reserve. Moreover, they "must denote whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the capacity of the appraisal assignment." Last, The Federal Reserve says that "some banks augment periodic reviews with post-funding evaluations of appraisal quality for any of their higher-liability or larger-value contracts as a way to help in exposing valuation issues."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely 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. Here at Appraisal Network, Corp., we're experienced in all forms of appraisal reviews, review procedures and the obligations of review appraisers.
We know what constitutes a quality appraisal and what the biggest imperfections are, specifically in our home market. We're also experienced enough to distinguish that the competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to fairly evaluate appraisal reports executed by others. And those others might be examining our work, too!
You can rely on Appraisal Network, Corp. for our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Appraisal Network, Corp. to learn more about our qualifications, expertise and services offered.