Appraisal Reviews by Advantage Appraisal Services, LLC
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, expert, professional and compliant with the Federal Reserve's guidelines, look no further than Advantage Appraisal Services, LLC.
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 "should determine whether the appraisal or evaluation is well-suited for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is obtained guarantees independence and quality," as stated by the Federal Reserve. In addition, they "must signify whether the appraisal or evaluation report matches the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for some of their higher-risk or large-value contracts as a way to assist in identifying valuation dilemmas."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll formulate 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 responsibilities of review appraisers.
Advantage Appraisal Services, LLC realizes what the most frequent imperfections are, particularly in our home market, as well as what makes a quality appraisal. We're also adequately trained to recognize that the competitors in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to objectively study appraisal reports completed by others. And those others may be examining our work, too!
In short, at Advantage Appraisal Services, LLC, you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Advantage Appraisal Services, LLC for more information regarding our qualifications, expertise and service offerings.