Qualified Appraisal Reviews by Advantage Appraisal Services, LLC
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers doing reviews ought to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." At Advantage Appraisal Services, LLC, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Advantage Appraisal Services, LLC today.
Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the practices by which the collateral valuation is obtained ensures independence and quality," according to the Federal Reserve. Moreover, they "must announce whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value contracts as a means to help in identifying valuation issues."
In addition to tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll prepare 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 are qualified in every type of appraisal review, review process and the obligations of review appraisers.
We realize what the greatest imperfections are, particularly in our housing market, as well as what amounts to a quality appraisal. In the same regard, we're adequately trained to respect that the competitors in our market are skillful in doing a good 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 lawfully evaluate appraisal reports performed by others. And those others might be reviewing our work, too!
When you choose Advantage Appraisal Services, LLC, you can trust our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered.