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Appraisal Reviews
According to an announcement
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."
M Davies Appraisal LLC provides appraisal review services that are independent, efficient, professional and in accordance with the Federal Reserve's regulations.
A review appraisal should pursue: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the procedure by which the real estate valuation is accomplished guarantees independence and quality.
Moreover, they should demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the range of the appraisal assignment.
Lastly, the Fed 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".
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If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call M Davies Appraisal LLC today. |
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In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At M Davies Appraisal LLC, we are qualified in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
M Davies Appraisal LLC realizes what the greatest reporting deficiencies are, especially in our real estate market. We also know what represents a quality appraisal.
At the same time, we are sufficiently skilled to recognize that the competitors in our market are capable of a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on us to lawfully valuate appraisal reports carried out by others. And those others could be examining our work, too!
For professional, unbiased, ethical appraisal review services and neutral judgments, you can depend on M Davies Appraisal LLC.
Contact us regarding our qualifications, expertise and service offerings.
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