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Quality Appraisal Reviews by Elite Appraisal Services

According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews should "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Elite Appraisal Services provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's regulations.

If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Elite Appraisal Services today.

According to the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality." They "should also indicate whether the appraisal or evaluation report is even with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also states that "some banks supplement routine reviews with post-funding surveys of appraisal quality for a few of their higher-liability or greater-value transactions as a channel to help in addressing valuation issues."

In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will prepare 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 are trained in every type of appraisal review, review practice and the obligations of review appraisers.

Elite Appraisal Services knows what makes a quality appraisal and what the most frequent imperfections are, particularly in our home market. In the same regard, the professionals at Elite Appraisal Services are adequately trained to respect that the competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to fairly evaluate appraisal reports completed by others. And those others may be evaluating our work, too!

At Elite Appraisal Services, you can be sure of our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Elite Appraisal Services regarding our qualifications, expertise and services offered.