Expert Appraisal Reviews by ASAP Appraisal Services, Inc.
As said in an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews should "have the familiarity and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." At ASAP Appraisal Services, Inc., we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call us today.
As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is appropriate for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is collected ensures independence and quality." They "must also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the scope of the appraisal assignment." Last, The Federal Reserve states that "some institutions add regular reviews with post-funding evaluations of appraisal quality for some of their high-liability or higher-value dealings as a way to help in detecting valuation issues."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll 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. Here at ASAP Appraisal Services, Inc., we're trained in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
We are familiar with what the most frequent weaknesses are, specifically in our housing market. We also understand what represents a quality appraisal. We're also experienced enough to respect that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully evaluate appraisal reports executed by others. And those others may be evaluating our work, too!
Here at ASAP Appraisal Services, Inc., you can be sure of our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.