Experienced Appraisal Reviews by Property Valuation Group
As stated 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 doing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." Property Valuation Group provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact Property Valuation Group today.
As stated by the Federal Reserve, appraisal reviews "should conclude 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 collected ensures independence and quality." They "must also announce whether the appraisal or evaluation report matches the letter of engagement, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions reinforce periodic reviews with post-funding surveys of appraisal quality for a number of their higher-risk or higher-value contracts as a way to aid in identifying valuation concerns."
In addition to adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will 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 Property Valuation Group, we're experienced in every form of appraisal review, review practice and the requirements of review appraisers.
We understand what amounts to a quality appraisal and what the biggest imperfections are, specifically in our home market. At the same time, we're sufficiently experienced to realize that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Property Valuation Group to lawfully look over appraisal reports done by others. And those others might be reviewing our work, too!
In short, at Property Valuation Group, you can rely on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and services offered.