ASAP Appraisal Group Appraisal Reviews
According to an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers completing reviews are obligated to "have the knowledge and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." At ASAP Appraisal Group, we provide appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, call ASAP Appraisal Group today.
According to the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality." In addition, they "should indicate whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some banks augment typical reviews with post-funding evaluations of appraisal quality for a number of their high-liability or higher-value dealings as a way to aid in discovering valuation problems."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally 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. Here at ASAP Appraisal Group, we are skilled in every type of appraisal review, review practice and the requirements of review appraisers.
ASAP Appraisal Group is aware of what the most common imperfections are, particularly in our real estate market. We also understand what makes a quality appraisal. The professionals at ASAP Appraisal Group are also amply skilled to identify that our competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on ASAP Appraisal Group to ethically evaluate appraisal reports executed by others. And those others may be studying our work, too!
In short, at ASAP Appraisal Group, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact ASAP Appraisal Group for more information regarding our qualifications, expertise and services offered.