ASAP Appraisal Group Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews have to "have the familiarity and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." ASAP Appraisal Group provides appraisal review services that are unbiased, expert, professional and in line 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, call ASAP Appraisal Group today.
Appraisal reviews "must verify whether the appraisal or evaluation is relevant for the transaction, the risk of the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. In addition, they "should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement regular reviews with post-funding assessments of appraisal quality for a number of their higher-risk or higher-value affairs as a way to help in identifying valuation disputes."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At ASAP Appraisal Group, we're skilled in every type of appraisal review, review procedure and the requirements of review appraisers.
We are familiar with what the greatest deficiencies are, especially in our real estate market. We also know what amounts to a quality appraisal. At the same time, the professionals at ASAP Appraisal Group are amply experienced to admit that the competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust ASAP Appraisal Group to fairly evaluate appraisal reports executed by others. And those others may be reviewing our work, too!
At ASAP Appraisal Group, you can count on our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact ASAP Appraisal Group regarding our qualifications, expertise and services offered.