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Appraisal Reviews
As said 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 performing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at PETERS APPRAISALS & CONSULTING, we provide appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is well-suited for the transaction, the risk inherit in the transaction, and whether the method by which the property valuation is attained guarantees independence and quality.
The review must also announce whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment.
The Federal Reserve says 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 adapting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At PETERS APPRAISALS & CONSULTING, we're experienced in every type of appraisal review, review procedure and the obligations of review appraisers.
PETERS APPRAISALS & CONSULTING knows what the most frequent report inadequacies are, particularly in our real estate market, as well as what represents a quality appraisal.
In the same regard, we're adequately trained to realize that the competition in our market are capable of quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to justly evaluate appraisal reports done by others. And those others might be reviewing our work, too!
For professional, unbiased, ethical appraisal review services and truthful judgments, you can depend on PETERS APPRAISALS & CONSULTING.
Contact us regarding our qualifications, expertise and service offerings.
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Today's Rates:
| 30-yr Fixed | 3.87% | 4% | | 15-yr Fixed | 3.16% | 3.33% | | 1-yr Adj | 2.78% | 3.45% |
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