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Skilled Appraisal Reviews by Real Value Appraisal ServicesAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Real Value Appraisal Services, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's regulations.The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality. They should also show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment. Lastly, the Federal Reserve also 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".
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 Real Value Appraisal Services, we are trained in every kind of appraisal review, review practice and the obligations of review appraisers.
For professional, fair, ethical appraisal review services and neutral judgments, you can depend on Real Value Appraisal Services. Contact us for more information regarding our qualifications, expertise and services offered. |
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Real Value Appraisal Services realizes what amounts to a quality appraisal and what the greatest deficiencies are, specifically in our local housing market.
We're also experienced enough to respect that our competition in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Real Value Appraisal Services to fairly valuate appraisal reports carried out by others. And those others could be studying our work, too!