Qualified Appraisal Reviews with ASAP Appraisal Services, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers doing reviews must "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at ASAP Appraisal Services, Inc., we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions about an appraisal, contact ASAP Appraisal Services, Inc. today.
Appraisal reviews "must verify whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the procedure by which the collateral valuation is collected ensures independence and quality," as stated by the Federal Reserve. Moreover, they "must show whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or greater-value contracts as a channel to assist in revealing valuation issues."
In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll develop an appraisal review on any 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 experienced in every type of appraisal review, review procedure and the obligations of review appraisers.
ASAP Appraisal Services, Inc. knows what the biggest weaknesses are, specifically in our real estate market, as well as what constitutes a quality appraisal. At the same time, we're amply experienced to acknowledge that the competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust ASAP Appraisal Services, Inc. to lawfully assess appraisal reports completed by others. And those others could be reviewing our work, too!
When you choose ASAP Appraisal Services, Inc., you can have confidence in our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.