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 program," and that appraisers performing reviews must "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's regulations, look no further than Elite Appraisal Services.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "must conclude whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality," as stated by the Federal Reserve. They "must also denote whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some banks add typical reviews with post-funding evaluations of appraisal quality for a number of their higher-risk or high-value dealings as a means to help in discovering valuation dilemmas."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are usually 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 are qualified in every kind of appraisal review, review process and the requirements of review appraisers.
We understand what represents a quality appraisal and what the greatest inadequacies are, particularly in our home market. At the same time, we're experienced enough to realize that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to objectively valuate appraisal reports performed by others. And those others could be evaluating our work, too!
In short, here at Elite Appraisal Services, you can trust our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.