Appraisal Reviews with Property Valuation Group
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Property Valuation Group, we provide appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions about an appraisal, call Property Valuation Group today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality." They "should also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the extent of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions reinforce routine reviews with post-funding evaluations of appraisal quality for a number of their higher-liability or greater-value transactions as a way to assist in revealing valuation disputes."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely 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. Here at Property Valuation Group, we're skilled in every kind of appraisal review, review process and the requirements of review appraisers.
Property Valuation Group is aware of what represents a quality appraisal and what the biggest defects are, especially in our real estate market. We're also amply trained to acknowledge that the competition in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Property Valuation Group to justly evaluate appraisal reports executed by others. And those others might be reviewing our work, too!
For professional, objective, ethical appraisal review services and independent judgments, you can rely on Property Valuation Group. Contact Property Valuation Group for more information about our qualifications, expertise and service offerings.