Getting a second opinion on an appraisalAs 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 it's the call of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Quality Appraisal Solution and Services provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is relevant for the transaction, the risk inherit in the transaction, and whether the procedure by which the real estate valuation is rendered ensures independence and quality. They should also demonstrate whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment. Lastly, the Fed goes on to say 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 regulations and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can produce an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Quality Appraisal Solution and Services, we're trained in every kind of appraisal review, review practice and the obligations of review appraisers.
Quality Appraisal Solution and Services realizes what the most frequent reporting imperfections are, especially in our real estate market. We also understand what constitutes a quality appraisal. The professionals at Quality Appraisal Solution and Services are also experienced enough to distinguish that the competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust Quality Appraisal Solution and Services to justly examine appraisal reports performed by others. And those others might be evaluating our work, too!
You can rely on Quality Appraisal Solution and Services for our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Quality Appraisal Solution and Services regarding our qualifications, expertise and service offerings.