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Appraisal Reviews by Landmark Properties Appraisals
According to an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers preparing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at Landmark Properties Appraisals, we provide appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's rules.
A review appraisal has to pursue: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the procedure by which the real estate valuation is attained ensures independence and quality.
In addition, they should denote whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment.
Lastly, the Fed also states that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
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If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today. |
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In addition to conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At Landmark Properties Appraisals, we are experienced in every form of appraisal review, review process and the responsibilities of review appraisers.
We understand what the most common report imperfections are, specifically in our home market, as well as what constitutes a quality appraisal.
The professionals at Landmark Properties Appraisals are also skilled enough to realize that our competition in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully look over appraisal reports executed by others. And those others might be evaluating our work, too!
In short, here at Landmark Properties Appraisals, you can rely on our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients.
Contact Landmark Properties Appraisals to learn more about our qualifications, expertise and service offerings.
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