Appraisal Reviews by Property Valuation Group
According to an announcement by the Federal Reserve, "financial institutions must have an effective, impartial real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at Property Valuation Group, we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "should decide whether the appraisal or evaluation is applicable for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should signify whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions reinforce routine reviews with post-funding surveys of appraisal quality for a few of their high-risk or large-value transactions as a means to aid in discovering valuation complications."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will formulate 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 are experienced in every form of appraisal review, review process and the obligations of review appraisers.
Property Valuation Group is aware of what the most prevalent weaknesses are, specifically in our real estate market, as well as what constitutes a quality appraisal. Concurrently, we're professional enough to admit that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Property Valuation Group to ethically look over appraisal reports carried out by others. And those others might be studying our work, too!
In short, at Property Valuation Group, 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 regarding our qualifications, expertise and service offerings.