According to a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the knowledge and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Advanced Appraising, Ltd provides appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact Advanced Appraising, Ltd today.
As stated by the Federal Reserve, appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is attained ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions augment regular reviews with post-funding assessments of appraisal quality for any of their higher-risk or large-value contracts as a means to assist in addressing valuation concerns."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will 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. Here at Advanced Appraising, Ltd, we're skilled in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
Advanced Appraising, Ltd knows what the most common defects are, specifically in our home market. We also understand what amounts to a quality appraisal. Concurrently, we are sufficiently experienced to know 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 as well as appraisal reports, and you can trust Advanced Appraising, Ltd to justly assess appraisal reports done by others. And those others may be studying our work, too!
In short, when you choose Advanced Appraising, Ltd, you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Advanced Appraising, Ltd regarding our qualifications, expertise and service offerings.