Appraisal Reviews by ASAP Appraisal Services, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, impartial real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the proficiency and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." At ASAP Appraisal Services, Inc., we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact ASAP Appraisal Services, Inc. today.
The Federal Reserve says appraisal reviews "should determine whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is accomplished ensures independence and quality." Moreover, they "should announce whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or higher-value contracts as a method to help in revealing valuation dilemmas."
In addition to tailoring our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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. At ASAP Appraisal Services, Inc., we're trained in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
ASAP Appraisal Services, Inc. understands what the most frequent weaknesses are, particularly in our real estate market, as well as what constitutes a quality appraisal. The professionals at ASAP Appraisal Services, Inc. are also skilled enough to know that the competitors in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on ASAP Appraisal Services, Inc. to lawfully examine appraisal reports executed by others. And those others may be reviewing our work, too!
You can count on ASAP Appraisal Services, Inc. for our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact ASAP Appraisal Services, Inc. for more information regarding our qualifications, expertise and services offered.