Appraisal Reviews by Advantage Appraisal Services, LLC
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation programs," and that appraisers fulfilling reviews should "have the ability and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's rules, just contact Advantage Appraisal Services, LLC.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "should decide whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is collected ensures independence and quality," the Federal Reserve says. They "must also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." The Federal Reserve also states that "some banks add regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value contracts as a method to aid in revealing valuation problems."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are widely 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 trained in every type of appraisal review, review process and the requirements of review appraisers.
We realize what the most frequent deficiencies are, especially in our real estate market, as well as what constitutes a quality appraisal. At the same time, the professionals at Advantage Appraisal Services, LLC are amply experienced to acknowledge that our competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically study appraisal reports executed by others. And those others may be studying our work, too!
Here at Advantage Appraisal Services, LLC, you can rely on our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Advantage Appraisal Services, LLC to learn more about our qualifications, expertise and services offered.