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Appraisal ReviewsAccording 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 undertaking reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Ashing's Appraisal Services, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.A review appraisal has to reveal: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the process by which the real estate valuation is acquired guarantees independence and quality. The review should also show whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the depth of the appraisal assignment. Lastly, the Federal Reserve also goes on to say 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".
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we can 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 Ashing's Appraisal Services, we are experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
In short, at Ashing's Appraisal Services, you can count on our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Ashing's Appraisal Services for more information regarding our qualifications, expertise and service offerings. |
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Ashing's Appraisal Services knows what the greatest reporting weaknesses are, specifically in our home market. We also know what represents a quality appraisal.
In the same sense, we're trained enough to recognize that the competition in our market are capable of doing quality work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to objectively evaluate appraisal reports carried out by others. And those others might be studying our work, too!