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Savvy Appraisal Reviews by A+ Valuation
As stated in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at A+ Valuation, we provide appraisal review services that are impartial, expert, professional and square with the Federal Reserve's rules.
A review appraisal should reveal: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the method by which the property valuation is obtained ensures independence and quality.
They must also show whether the appraisal or evaluation report is true to the letter of engagement, which gives an account of the depth of the appraisal assignment.
Lastly, the Fed notes 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".
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If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call A+ Valuation today. |
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In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are usually 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 A+ Valuation, we're experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
A+ Valuation knows what the typical report weaknesses are, particularly in our home market, as well as what amounts to a quality appraisal.
In the same regard, we are proficient enough to distinguish that the competition in our market are qualified to do a fine job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on A+ Valuation to objectively examine appraisal reports executed by others. And those others might be reviewing our work, too!
For professional, objective, ethical appraisal review services and honest judgments, you can depend on A+ Valuation.
Contact us regarding our qualifications, expertise and services offered.
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