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Skilled Appraisal Reviews With Evans Appraisal ServicesAccording 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 doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Evans Appraisal Services, we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the method by which the property valuation is accomplished ensures independence and quality. Moreover, they should demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment. The Federal Reserve 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".
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily 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. Here at Evans Appraisal Services, we are qualified in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
For professional, unbiased, ethical appraisal review services and independent judgments, you can rely on Evans Appraisal Services. Contact us regarding our qualifications, expertise and service offerings. |
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We realize what the typical report defects are, especially in our real estate market, as well as what amounts to a quality appraisal. The professionals at Evans Appraisal Services are also trained enough to recognize that our competition in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Evans Appraisal Services to ethically valuate appraisal reports carried out by others. And those others could be reviewing our work, too!