ASAP Appraisal Group Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, qualified, professional and square with the Federal Reserve's regulations, look no further than ASAP Appraisal Group.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call ASAP Appraisal Group today.
The Federal Reserve says appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must denote whether the appraisal or evaluation report is true to the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment periodic reviews with post-funding assessments of appraisal quality for a few of their high-liability or greater-value dealings as a control to assist in detecting valuation concerns."
In addition to conforming our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will 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. At ASAP Appraisal Group, we are trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
ASAP Appraisal Group realizes what amounts to a quality appraisal and what the most prevalent inadequacies are, particularly in our home market. The professionals at ASAP Appraisal Group are also trained enough to acknowledge that our competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically look over appraisal reports performed by others. And those others could be studying our work, too!
In short, when you choose ASAP Appraisal Group, you can rely on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact ASAP Appraisal Group to learn more about our qualifications, expertise and services offered.