Expert Appraisal Reviews with Real Property Valuations
As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews must "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's rules, contact Real Property Valuations.
If you need a real estate appraisal review or have questions regarding an appraisal, contact us today.
The Federal Reserve says appraisal reviews "must conclude whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality." In addition, they "should announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." Last, The Federal Reserve notes that "some financial institutions add regular reviews with post-funding assessments of appraisal quality for any of their higher-risk or higher-value transactions as a channel to assist in identifying valuation problems."
In addition to coordinating 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 will 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. At Real Property Valuations, we are skilled in every form of appraisal review, review practice and the requirements of review appraisers.
We understand what the most frequent imperfections are, specifically in our housing market. We also understand what represents a quality appraisal. In the same sense, we're trained enough to acknowledge that our competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Real Property Valuations to objectively valuate appraisal reports executed by others. And those others might be reviewing our work, too!
At Real Property Valuations, you can have confidence in our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.