Appraisal Reviews with Property Valuation Group
As said in an announcement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the proficiency and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Property Valuation Group provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact Property Valuation Group today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality," the Federal Reserve says. They "must also announce whether the appraisal or evaluation report is consistent with the engagement letter, which describes the scope of the appraisal assignment." The Federal Reserve also notes that "some institutions augment periodic reviews with post-funding evaluations of appraisal quality for some of their higher-risk or larger-value affairs as a method to aid in addressing valuation complications."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll develop 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 Property Valuation Group, we're qualified in every form of appraisal review, review process and the responsibilities of review appraisers.
We know what the most prevalent imperfections are, specifically in our home market, as well as what constitutes a quality appraisal. In this regard, we are skilled enough to know that our competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Property Valuation Group to objectively review appraisal reports performed by others. And those others may be reviewing our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can depend on Property Valuation Group. Contact Property Valuation Group for more information about our qualifications, expertise and services offered.