Qualified Appraisal Reviews with ASAP Appraisal Group
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers completing reviews have to "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines, look no further than ASAP Appraisal Group.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact ASAP Appraisal Group today.
Appraisal reviews "must verify 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 acquired ensures independence and quality," as stated by the Federal Reserve. They "must also signify whether the appraisal or evaluation report is compatible with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or higher-value affairs as a way to aid in revealing valuation dilemmas."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll 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. At ASAP Appraisal Group, we are trained in every kind of appraisal review, review practice and the responsibilities of review appraisers.
We're aware of what the most frequent deficiencies are, especially in our real estate market, as well as what amounts to a quality appraisal. In the same regard, we are amply trained to realize that the competition in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust ASAP Appraisal Group to objectively study appraisal reports executed by others. And those others might be examining our work, too!
In short, here at ASAP Appraisal Group, you can have confidence in our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact ASAP Appraisal Group regarding our qualifications, expertise and service offerings.