Appraisal Solutions LLC Appraisal ReviewsAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the expectation of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Appraisal Solutions LLC, we provide appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the procedure by which the collateral valuation is acquired ensures independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the capacity of the appraisal assignment. The Fed 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 forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we'll produce 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 Solutions LLC, we're trained in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Appraisal Solutions LLC realizes what makes a quality appraisal and what the biggest inadequacies are, especially when it comes to our home market. The professionals at Appraisal Solutions LLC are also amply skilled to realize that our competitors in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to ethically review appraisal reports carried out by others. And those others could be studying our work, too!
You can count on Appraisal Solutions LLC for our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Appraisal Solutions LLC for more information regarding our qualifications, expertise and services offered.