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Appraisal Reviews by Appraisals Excel CorporationAs stated 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 prudent for appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Appraisals Excel Corporation, we provide appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the manners by which the real estate valuation is attained guarantees independence and quality. The review must also demonstrate whether the appraisal or evaluation report is in line with the engagement letter, which gives an account of the depth 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".
In addition to coordinating our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we'll 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 Appraisals Excel Corporation, we're skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on Appraisals Excel Corporation. Contact Appraisals Excel Corporation regarding our qualifications, expertise and services offered. |
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Appraisals Excel Corporation understands what represents a quality appraisal and what the most frequent defects are, especially in our local real estate market.
Concurrently, we are proficient enough to acknowledge that the competition 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 count on us to ethically look over appraisal reports performed by others. And those others could be studying our work, too!