Appraisal Reviews with ASAP Appraisal Services, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." ASAP Appraisal Services, Inc. provides appraisal review services that are independent, qualified, professional and square with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call ASAP Appraisal Services, Inc. today.
Appraisal reviews "have to determine whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the means by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. In addition, they "should show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce routine reviews with post-funding assessments of appraisal quality for some of their higher-risk or large-value contracts as a way to help in revealing valuation problems."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At ASAP Appraisal Services, Inc., we're trained in every kind of appraisal review, review practice and the obligations of review appraisers.
ASAP Appraisal Services, Inc. realizes what the most common imperfections are, especially in our real estate market. We also understand what amounts to a quality appraisal. We're also sufficiently experienced to identify that the competitors in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly review appraisal reports performed by others. And those others might be studying our work, too!
You can rely on ASAP Appraisal Services, Inc. for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.