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Appraisal Reviews by Desert Sky Appraisers
According to a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
it's the expectation of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Desert Sky Appraisers provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.
The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the procedure by which the collateral valuation is attained ensures independence and quality.
The review should also demonstrate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the extent of the appraisal assignment.
The Fed 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 in reference to an appraisal, or if you're in the need of a real estate appraisal review, call Desert Sky Appraisers today. |
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In addition to conforming our work to the forms 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
Here at Desert Sky Appraisers, we are experienced in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
We're aware of what makes a quality appraisal and what the biggest defects are, specifically when it comes to our local real estate market.
In the same regard, we're amply experienced to identify that the competitors in our market are capable of doing quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Desert Sky Appraisers to ethically evaluate appraisal reports carried out by others. And those others could be evaluating our work, too!
In short, here at Desert Sky Appraisers, you can be sure of our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers.
Contact Desert Sky Appraisers for more information regarding our qualifications, expertise and services offered.
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