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Savvy Appraisal Reviews with 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
appraisers completing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At Desert Sky Appraisers, we provide appraisal review services that are impartial, qualified, professional and in accordance with the Federal Reserve's rules.
A review appraisal should ascertain: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the method by which the collateral valuation is attained ensures independence and quality.
In addition, they should show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the outlook of the appraisal assignment.
The Fed says 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 need a real estate appraisal review, call us today. |
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In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will develop 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're skilled in all types of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what the most common report inadequacies are, specifically in our real estate market, as well as what makes a quality appraisal.
The professionals at Desert Sky Appraisers are also trained enough to admit that our competition in our market are able to do quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to objectively review appraisal reports carried out by others. And those others may be evaluating our work, too!
You can depend on Desert Sky Appraisers for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers.
Contact us to learn more about our qualifications, expertise and service offerings.
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