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Appraisal Reviews
As said in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers doing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Marble Appraisals provides appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's guidelines.
A review appraisal has to detect: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the practices by which the property valuation is acquired ensures independence and quality.
In addition, they should demonstrate whether the appraisal or evaluation report matches the engagement letter, which describes the scope of the appraisal assignment.
The Federal Reserve 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".
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If you need a real estate appraisal review or have questions regarding an appraisal, contact us today. |
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In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At Marble Appraisals, we're experienced in every kind of appraisal review, review practice and the responsibilities of review appraisers.
We know what makes a quality appraisal and what the most frequent deficiencies are, specifically when it comes to our home market.
We're also skilled enough to know that our competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly study appraisal reports done by others. And those others could be studying our work, too!
You can rely on Marble Appraisals for our independent judgment, because we offer professional, fair, ethical appraisal review services for our clients.
Contact us for more information about our qualifications, expertise and services offered.
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