Appraisal Reviews by Advantage Appraisal Services, LLC
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Advantage Appraisal Services, LLC provides appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Advantage Appraisal Services, LLC today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. In addition, they "should indicate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions reinforce typical reviews with post-funding surveys of appraisal quality for any of their high-liability or higher-value dealings as a method to aid in uncovering valuation concerns."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will develop 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're skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
We know what the most prevalent defects are, particularly in our real estate market. We also know what makes a quality appraisal. In the same sense, the professionals at Advantage Appraisal Services, LLC are adequately experienced to acknowledge that our competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Advantage Appraisal Services, LLC to justly study appraisal reports done by others. And those others might be evaluating our work, too!
At Advantage Appraisal Services, LLC, you can rely on our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.