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Appraisal Works LLC Appraisal Reviews
According to 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."
Appraisal Works LLC provides appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.
A review appraisal has to pursue: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the procedures by which the real estate valuation is accomplished ensures independence and quality.
They should also denote whether the appraisal or evaluation report matches the engagement letter, which sets forth the reach 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 have questions about an appraisal, or if you need a real estate appraisal review, contact us today. |
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In addition to tailoring our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will produce 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 Appraisal Works LLC, we're qualified in every type of appraisal review, review process and the responsibilities of review appraisers.
We know what the most frequent report deficiencies are, particularly in our real estate market, as well as what makes a quality appraisal.
In the same sense, we're proficient enough to distinguish that the competitors in our market are able to do good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically review appraisal reports executed by others. And those others may be examining our work, too!
In short, here at Appraisal Works LLC, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients.
Contact us regarding our qualifications, expertise and service offerings.
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