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Complete Appraisal Reviews by Appraisal Evaluation Technical Services, Inc.As said in 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 responsibility of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Appraisal Evaluation Technical Services, Inc., we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's regulations.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the means by which the property valuation is attained ensures independence and quality. Moreover, they should signify whether the appraisal or evaluation report is true to the engagement letter, which sets forth the outlook of the appraisal assignment. Lastly, the Fed 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 adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly 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 Appraisal Evaluation Technical Services, Inc., we're qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
In short, at Appraisal Evaluation Technical Services, Inc., you can have confidence in our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings. |
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We know what amounts to a quality appraisal and what the most prevalent defects are, specifically for reports in our home market.
Concurrently, we're sufficiently experienced to distinguish that our competition in our market are skillful in doing good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Appraisal Evaluation Technical Services, Inc. to lawfully look over appraisal reports carried out by others. And those others could be examining our work, too!