Quality Appraisal Reviews with ASAP Appraisal Group
According to a statement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation plans," and that appraisers performing reviews are obligated to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." Here at ASAP Appraisal Group, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's regulations.
If you need a real estate appraisal review or have questions in reference to an appraisal, call ASAP Appraisal Group today.
According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is acquired guarantees independence and quality." They "must also denote whether the appraisal or evaluation report is even with the engagement letter, which describes the extent of the appraisal assignment." Lastly, the Federal Reserve states that "some financial institutions supplement periodic reviews with post-funding assessments of appraisal quality for a number of their higher-risk or high-value dealings as a control to help in discovering valuation issues."
In addition to adjusting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely 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're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
ASAP Appraisal Group understands what represents a quality appraisal and what the greatest inadequacies are, specifically in our home market. The professionals at ASAP Appraisal Group are also trained enough to admit that our competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust ASAP Appraisal Group to justly evaluate appraisal reports performed by others. And those others might be studying our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can count on ASAP Appraisal Group. Contact ASAP Appraisal Group to learn more about our qualifications, expertise and service offerings.