ASAP Appraisal Services, Inc. Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation plan," and that appraisers fulfilling reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." ASAP Appraisal Services, Inc. provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions about an appraisal, call ASAP Appraisal Services, Inc. today.
Appraisal reviews "must figure out whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. They "must also demonstrate whether the appraisal or evaluation report matches the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment typical reviews with post-funding evaluations of appraisal quality for a few of their high-liability or greater-value transactions as a way to help in detecting valuation complications."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. Here at ASAP Appraisal Services, Inc., we are qualified in every kind of appraisal review, review process and the responsibilities of review appraisers.
ASAP Appraisal Services, Inc. is aware of what makes a quality appraisal and what the most common deficiencies are, especially in our real estate market. At the same time, we're sufficiently skilled to identify that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust ASAP Appraisal Services, Inc. to fairly look over appraisal reports completed by others. And those others might be studying our work, too!
In short, at ASAP Appraisal Services, Inc., you can rely on our independent judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact ASAP Appraisal Services, Inc. for more information about our qualifications, expertise and service offerings.