|
|
Quality Appraisal Reviews by AccuRight Appraisals
As stated 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 preparing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at AccuRight Appraisals, we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.
A review appraisal should verify: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the method by which the property valuation is attained guarantees independence and quality.
In addition, they should show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the range 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".
 |
 |
 |
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today. |
|
|
In addition to adjusting our work to the procedures 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At AccuRight Appraisals, we're qualified in all forms of appraisal reviews, review processes and the requirements of review appraisers.
We realize what the most likely report defects are, particularly in our home market, as well as what constitutes a quality appraisal.
The professionals at AccuRight Appraisals are also adequately skilled to admit that the competitors in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on AccuRight Appraisals to ethically assess appraisal reports performed by others. And those others may be studying our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can depend on AccuRight Appraisals.
Contact us for more information about our qualifications, expertise and services offered.
|
|