Appraisal ReviewsAccording 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 familiarity and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Here at Book Value Appraisals, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules. 
If you need a real estate appraisal review or have questions regarding an appraisal, call us today. As stated by the Federal Reserve, appraisal reviews "must determine whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the actions by which the collateral valuation is obtained ensures independence and quality." Moreover, they "should show whether the appraisal or evaluation report is even with the engagement letter, which sets forth the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add typical reviews with post-funding surveys of appraisal quality for a few of their higher-liability or larger-value transactions as a channel to assist in uncovering valuation dilemmas." In addition to adapting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will produce 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 Book Value Appraisals, we're experienced in all types of appraisal reviews, review practices and the responsibilities of review appraisers. We are aware of what the most frequent imperfections are, especially in our housing market, as well as what amounts to a quality appraisal. Concurrently, we are amply trained to admit that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to fairly review appraisal reports performed by others. And those others might be studying our work, too! Here at Book Value Appraisals, you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Book Value Appraisals for more information regarding our qualifications, expertise and service offerings. |