Complete Appraisal Reviews with Accredited Appraisal Services, LLCAs said in an announcement 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 performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Accredited Appraisal Services, LLC provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality. The review should also show whether the appraisal or evaluation report matches the engagement letter, which describes the reach of the appraisal assignment. The Federal Reserve states 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 adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are typically 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. Here at Accredited Appraisal Services, LLC, we're trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
We know what the most common report deficiencies are, particularly in our housing market, as well as what constitutes a quality appraisal. We're also skilled enough to distinguish that our competition 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 trust us to justly evaluate appraisal reports completed by others. And those others may be reviewing our work, too!
You can depend on Accredited Appraisal Services, LLC for our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Accredited Appraisal Services, LLC to learn more about our qualifications, expertise and service offerings.