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Skilled Appraisal Reviews by TEXAS REAL ESTATE APPRAISERSAccording to 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 obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." TEXAS REAL ESTATE APPRAISERS provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the manner by which the property valuation is attained ensures independence and quality. Moreover, they must signify whether the appraisal or evaluation report is consistent with the letter of engagement, which sets forth the range of the appraisal assignment. Lastly, the Federal Reserve 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".
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If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today. |
In addition to adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll 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 TEXAS REAL ESTATE APPRAISERS, we are skilled in every kind of appraisal review, review process and the responsibilities of review appraisers.
 We are aware of what makes a quality appraisal and what the biggest errors are, especially in our local housing market. The professionals at TEXAS REAL ESTATE APPRAISERS are also trained enough to know that our competitors in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully valuate appraisal reports done by others. And those others may be reviewing our work, too!
In short, at TEXAS REAL ESTATE APPRAISERS, you can have confidence in our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact TEXAS REAL ESTATE APPRAISERS regarding our qualifications, expertise and service offerings.
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