Expert Appraisal Reviews by Accu Value AppraisalsAccording 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 doing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Accu Value Appraisals provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.
A review appraisal has to verify: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the manner by which the property valuation is obtained ensures independence and quality. They should also indicate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the reach of the appraisal assignment. Lastly, the Fed 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 coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can formulate 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 Accu Value Appraisals, we're skilled in every type of appraisal review, review procedure and the obligations of review appraisers.
Accu Value Appraisals is aware of what the biggest reporting imperfections are, especially in our real estate market. We also know what makes a quality appraisal. We're also sufficiently experienced to respect that the competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Accu Value Appraisals to fairly look over appraisal reports carried out by others. And those others may be evaluating our work, too!
You can count on Accu Value Appraisals for our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.