Qualified Appraisal Reviews by ASAP Appraisal Services, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews are obligated to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Here at ASAP Appraisal Services, Inc., we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is well-suited for the transaction, the risk of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce regular reviews with post-funding surveys of appraisal quality for a few of their higher-risk or large-value dealings as a method to aid in addressing valuation dilemmas."
In addition to tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will prepare 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 ASAP Appraisal Services, Inc., we're experienced in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
ASAP Appraisal Services, Inc. realizes what the biggest weaknesses are, especially in our housing market. We also understand what makes a quality appraisal. At the same time, we are sufficiently trained to know that the competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust ASAP Appraisal Services, Inc. to fairly look over appraisal reports completed by others. And those others may be examining our work, too!
For professional, objective, ethical appraisal review services and truthful judgments, you can depend on ASAP Appraisal Services, Inc.. Contact ASAP Appraisal Services, Inc. regarding our qualifications, expertise and services offered.