As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the proficiency and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." Here at Real Property Valuations Co, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call Real Property Valuations Co today.
Appraisal reviews "ought to conclude whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. Moreover, they "must signify whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the range of the appraisal assignment." The Federal Reserve also says that "some banks supplement routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value transactions as a means to assist in detecting valuation issues."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce 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 Real Property Valuations Co, we are skilled in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what the most frequent imperfections are, particularly in our housing market. We also know what represents a quality appraisal. Concurrently, we're skilled enough to identify that the competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Real Property Valuations Co to lawfully review appraisal reports carried out by others. And those others could be reviewing our work, too!
You can trust Real Property Valuations Co for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.