Qualified Appraisal Reviews by Advantage Appraisal Services, LLC
According to an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Advantage Appraisal Services, LLC provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact Advantage Appraisal Services, LLC today.
Appraisal reviews "should decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the practices by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. In addition, they "should indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce routine reviews with post-funding assessments of appraisal quality for a number of their high-risk or larger-value transactions as a way to aid in uncovering valuation concerns."
In addition to adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily 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. Here at Advantage Appraisal Services, LLC, we're qualified in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what the biggest defects are, specifically in our housing market. We also understand what amounts to a quality appraisal. The professionals at Advantage Appraisal Services, LLC are also experienced enough to recognize that our competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Advantage Appraisal Services, LLC to objectively assess appraisal reports completed by others. And those others may be evaluating our work, too!
In short, when you choose Advantage Appraisal Services, LLC, you can be sure of our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Advantage Appraisal Services, LLC to learn more about our qualifications, expertise and services offered.