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Appraisal Reviews with Appraisal First, Inc.As said in 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." Here at Appraisal First, Inc., we provide appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.A review appraisal has to ascertain: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the procedure by which the collateral valuation is accomplished guarantees independence and quality. Moreover, they should show whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the capacity of the appraisal assignment. Lastly, the Fed also 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 adjusting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely 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. At Appraisal First, Inc., we are skilled in every kind of appraisal review, review process and the requirements of review appraisers.
You can depend on Appraisal First, Inc. for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Appraisal First, Inc. regarding our qualifications, expertise and service offerings. |
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We are aware of what the most prevalent reporting deficiencies are, particularly in our housing market. We also understand what amounts to a quality appraisal.
At the same time, we are adequately skilled to identify that our competitors in our market are capable of good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully examine appraisal reports completed by others. And those others could be reviewing our work, too!