Qualified Appraisal Reviews with Property Valuation Group
According to an announcement by the Federal Reserve, "financial institutions must have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Property Valuation Group, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. In addition, they "must announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." The Federal Reserve also states that "some banks supplement routine reviews with post-funding surveys of appraisal quality for some of their high-risk or large-value contracts as a channel to aid in discovering valuation problems."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Property Valuation Group, we are qualified in every kind of appraisal review, review process and the requirements of review appraisers.
We understand what the most common defects are, especially in our home market, as well as what makes a quality appraisal. The professionals at Property Valuation Group are also amply trained to identify that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly examine appraisal reports carried out by others. And those others could be reviewing our work, too!
You can trust Property Valuation Group for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Property Valuation Group to learn more about our qualifications, expertise and services offered.