Quality Appraisal Reviews with Ace Appraisal (970) 731-1986According to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers preparing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Ace Appraisal (970) 731-1986 provides appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.
A review appraisal should pursue: whether the original appraisal or evaluation is well-suited for the transaction, the risk inherit in the transaction, and whether the processes by which the property valuation is accomplished ensures independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is in line with the engagement letter, which gives an account of the extent of the appraisal assignment. Lastly, the Federal Reserve also 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 practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can prepare 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 Ace Appraisal (970) 731-1986, we are skilled in every type of appraisal review, review practice and the obligations of review appraisers.
We are aware of what the most prevalent reporting inadequacies are, specifically in our housing market. We also know what constitutes a quality appraisal. At the same time, we're skilled enough to distinguish that our competition in our market are skillful in doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Ace Appraisal (970) 731-1986 to ethically valuate appraisal reports carried out by others. And those others might be reviewing our work, too!
In short, when you choose Ace Appraisal (970) 731-1986, you can count on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.