Getting a second opinion on an appraisalAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers doing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at 20-22 Claver Place ace Realty, Inc, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.
A review appraisal should find out: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality. In addition, they should show whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the range of the appraisal assignment. The Fed also goes on to say that "some banks supplement routine reviews with post-funding evaluations of appraisal quality for some of their higher-risk or greater-value transactions as a control to assist in detecting valuation problems".
In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll 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 20-22 Claver Place ace Realty, Inc, we're trained in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
20-22 Claver Place ace Realty, Inc understands what represents a quality appraisal and what the most common inadequacies are, specifically for reports in our home market. In the same regard, the professionals at 20-22 Claver Place ace Realty, Inc are amply trained to know that our competitors in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on 20-22 Claver Place ace Realty, Inc to objectively study appraisal reports carried out by others. And those others may be evaluating our work, too!
You can depend on 20-22 Claver Place ace Realty, Inc for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact 20-22 Claver Place ace Realty, Inc to learn more about our qualifications, expertise and services offered.