Appraisal Reviews by Advantage Appraisal Services, LLC
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the familiarity and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Advantage Appraisal Services, LLC, we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, call us today.
The Federal Reserve says appraisal reviews "have to find out whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the process by which the collateral valuation is accomplished guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also states that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for a number of their high-risk or large-value transactions as a way to help in identifying valuation dilemmas."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll 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 trained in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
Advantage Appraisal Services, LLC realizes what constitutes a quality appraisal and what the biggest deficiencies are, specifically in our real estate market. The professionals at Advantage Appraisal Services, LLC are also experienced enough to acknowledge that the competition 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 rely on us to lawfully evaluate appraisal reports performed by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can count on Advantage Appraisal Services, LLC. Contact Advantage Appraisal Services, LLC to learn more about our qualifications, expertise and service offerings.