Elite Appraisal Services Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation plan," and that appraisers performing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Elite Appraisal Services provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Elite Appraisal Services today.
As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality." They "should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the extent of the appraisal assignment." Last, The Federal Reserve notes that "some institutions augment typical reviews with post-funding evaluations of appraisal quality for any of their high-risk or larger-value dealings as a means to aid in revealing valuation concerns."
In addition to adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Elite Appraisal Services, we're trained in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We are familiar with what the most frequent inadequacies are, specifically in our home market, as well as what amounts to a quality appraisal. The professionals at Elite Appraisal Services are also amply skilled to identify that our competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Elite Appraisal Services to fairly evaluate appraisal reports carried out by others. And those others might be studying our work, too!
In short, here at Elite Appraisal Services, you can be sure of our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Elite Appraisal Services for more information regarding our qualifications, expertise and services offered.