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Appraisal Reviews by Advantage Appraisal Services, LLC
As said in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
it's the call of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Advantage Appraisal Services, LLC provides appraisal review services that are objective, qualified, professional and in line with the Federal Reserve's regulations.
A review appraisal should ascertain: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the procedures by which the real estate valuation is acquired ensures independence and quality.
In addition, they should indicate whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the scope of the appraisal assignment.
The Federal Reserve states 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".
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If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today. |
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In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll 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 Advantage Appraisal Services, LLC, we're experienced in all forms of appraisal reviews, review processes and the obligations of review appraisers.
Advantage Appraisal Services, LLC is aware of what the typical report deficiencies are, specifically in our real estate market, as well as what represents a quality appraisal.
In the same sense, we're adequately trained to recognize that our competition in our market are qualified to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Advantage Appraisal Services, LLC to ethically assess appraisal reports performed by others. And those others could be evaluating our work, too!
When you choose Advantage Appraisal Services, LLC, you can be sure of our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients.
Contact us regarding our qualifications, expertise and services offered.
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