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Appraisal Reviews with Elite Appraisals (215) 431-6123As 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 appraisers doing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Elite Appraisals (215) 431-6123, we provide appraisal review services that are independent, efficient, professional and square with the Federal Reserve's regulations.A review appraisal has to verify: whether the original appraisal or evaluation is pertinent for the transaction, the liability inherit in the transaction, and whether the means by which the collateral valuation is rendered guarantees independence and quality. In addition, they must denote whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment. The Federal Reserve also 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 tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll 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 Elite Appraisals (215) 431-6123, we're qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
You can rely on Elite Appraisals (215) 431-6123 for our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Elite Appraisals (215) 431-6123 to learn more about our qualifications, expertise and service offerings. |
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Elite Appraisals (215) 431-6123 is aware of what the most prevalent reporting weaknesses are, specifically in our real estate market. We also understand what represents a quality appraisal.
We're also amply experienced to admit that our competitors in our market are capable of doing a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on Elite Appraisals (215) 431-6123 to justly examine appraisal reports performed by others. And those others might be examining our work, too!