Qualified Appraisal Reviews by Advantage Appraisal Services, LLC
According to a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you're looking for appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's regulations, look no further than Advantage Appraisal Services, LLC.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, call us today.
The Federal Reserve says appraisal reviews "should find out whether the appraisal or evaluation is well-suited for the transaction, the danger of the transaction, and whether the means by which the collateral valuation is acquired guarantees independence and quality." They "must also show whether the appraisal or evaluation report is even with the letter of engagement, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add routine reviews with post-funding assessments of appraisal quality for some of their high-liability or greater-value dealings as a control to assist in revealing valuation dilemmas."
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Advantage Appraisal Services, LLC, we are skilled in every form of appraisal review, review process and the requirements of review appraisers.
Advantage Appraisal Services, LLC realizes what the most frequent imperfections are, particularly in our real estate market. We also know what constitutes a quality appraisal. In the same sense, we are trained enough to realize that our competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to objectively assess appraisal reports completed by others. And those others may be evaluating our work, too!
In short, here at Advantage Appraisal Services, LLC, you can have confidence in our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.