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Quality Appraisal Reviews by ABC Appraisal ServiceAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at ABC Appraisal Service, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the means by which the property valuation is rendered ensures independence and quality. They must also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment. Lastly, the Fed notes 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".
In addition to adapting 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at ABC Appraisal Service, we are skilled in every type of appraisal review, review procedure and the obligations of review appraisers.
You can rely on ABC Appraisal Service for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact ABC Appraisal Service for more information regarding our qualifications, expertise and service offerings. |
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We are familiar with what makes a quality appraisal and what the most frequent defects are, specifically when it comes to our local housing market.
In the same sense, we are adequately skilled to distinguish that our competitors in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically study appraisal reports done by others. And those others may be studying our work, too!