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Complete Appraisal Reviews by Appraisers Now, Inc.
According to a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers undertaking reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Appraisers Now, Inc. provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.
A review appraisal has to find out: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the method by which the collateral valuation is obtained guarantees independence and quality.
Moreover, they must demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment.
Lastly, the Federal Reserve also says 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 conforming our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At Appraisers Now, Inc., we're experienced in all types of appraisal reviews, review processes and the obligations of review appraisers.
We realize what amounts to a quality appraisal and what the biggest defects are, especially in our local real estate market.
Concurrently, we're amply trained to realize that the competitors in our market are skillful in doing quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Appraisers Now, Inc. to justly study appraisal reports completed by others. And those others might be examining our work, too!
At Appraisers Now, Inc., you can have confidence in our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients.
Contact Appraisers Now, Inc. for more information about our qualifications, expertise and services offered.
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