Expert Appraisal Reviews with Elite Appraisal Services
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation plan," and that appraisers performing reviews should "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Elite Appraisal Services provides appraisal review services that are impartial, efficient, professional and in line with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Elite Appraisal Services today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. They "should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions reinforce periodic reviews with post-funding assessments of appraisal quality for a number of their higher-risk or larger-value dealings as a control to aid in detecting valuation concerns."
In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll develop 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 Elite Appraisal Services, we're trained in every kind of appraisal review, review procedure and the obligations of review appraisers.
Elite Appraisal Services understands what the most prevalent deficiencies are, particularly in our housing market. We also know what amounts to a quality appraisal. In the same sense, we are trained enough to identify that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Elite Appraisal Services to lawfully assess appraisal reports performed by others. And those others could be evaluating our work, too!
In short, at Elite Appraisal Services, you can have confidence in our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Elite Appraisal Services for more information regarding our qualifications, expertise and service offerings.