Appraisal Reviews with Property Valuation Group
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews ought to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." Property Valuation Group provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Property Valuation Group today.
Appraisal reviews "must decide whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "must also denote whether the appraisal or evaluation report is even with the letter of engagement, which describes the range of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement regular reviews with post-funding assessments of appraisal quality for a number of their high-risk or high-value affairs as a channel to assist in detecting valuation concerns."
In addition to conforming our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will prepare 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 all types of appraisal reviews, review practices and the responsibilities of review appraisers.
We are familiar with what the most prevalent inadequacies are, specifically in our real estate market, as well as what amounts to a quality appraisal. We're also trained enough to admit that our competitors in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust Property Valuation Group to ethically look over appraisal reports performed by others. And those others may be reviewing our work, too!
You can count on Property Valuation Group for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us to learn more about our qualifications, expertise and services offered.