Property Valuation Group Appraisal Reviews
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation plan," and that appraisers fulfilling reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At Property Valuation Group, we provide appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Property Valuation Group today.
Appraisal reviews "ought to find out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality," according to the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some banks augment routine reviews with post-funding surveys of appraisal quality for some of their high-liability or large-value contracts as a channel to help in identifying 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 generally used for review services, and we can prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Property Valuation Group, we're trained in every type of appraisal review, review process and the responsibilities of review appraisers.
We know what makes a quality appraisal and what the most prevalent imperfections are, specifically in our housing market. The professionals at Property Valuation Group are also trained enough to admit that the competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully examine appraisal reports completed by others. And those others could be examining our work, too!
In short, here at Property Valuation Group, you can be sure of our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact Property Valuation Group to learn more about our qualifications, expertise and services offered.