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 programs," and that appraisers doing reviews are obligated to "have the ability and expertise to assess compliance with the Federal Reserves appraisal rules and guidelines." Here at ASAP Appraisal Group, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's rules.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact ASAP Appraisal Group today.
As stated by the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality." They "must also denote whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some banks supplement regular reviews with post-funding evaluations of appraisal quality for a number of their high-liability or large-value contracts as a control to aid in discovering valuation problems."
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can develop 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 trained in every form of appraisal review, review procedure and the obligations of review appraisers.
We realize what the most frequent weaknesses are, particularly in our real estate market. We also understand what represents a quality appraisal. The professionals at ASAP Appraisal Group are also experienced enough to know that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust ASAP Appraisal Group to lawfully assess appraisal reports executed by others. And those others could be studying our work, too!
For professional, impartial, ethical appraisal review services and neutral judgments, you can depend on ASAP Appraisal Group. Contact us for more information regarding our qualifications, expertise and service offerings.