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Appraisal ReviewsAccording 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." ASAP APPRAISAL SOLUTIONS provides appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.A review appraisal has to detect: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the method by which the property valuation is acquired guarantees independence and quality. They should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the depth of the appraisal assignment. The Federal Reserve goes on to say 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 coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At ASAP APPRAISAL SOLUTIONS, we're qualified in all forms of appraisal reviews, review practices and the requirements of review appraisers.
In short, when you choose ASAP APPRAISAL SOLUTIONS, you can count on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact ASAP APPRAISAL SOLUTIONS regarding our qualifications, expertise and service offerings. |
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We know what the most prevalent report defects are, especially in our home market, as well as what constitutes a quality appraisal.
The professionals at ASAP APPRAISAL SOLUTIONS are also amply experienced to identify that our competitors in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically assess appraisal reports executed by others. And those others may be studying our work, too!