Experienced Appraisal Reviews with Advent Appraisals (763) 350-4816As 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 appraisers performing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Advent Appraisals (763) 350-4816, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is fitting for the transaction, the exposure inherit in the transaction, and whether the processes by which the real estate valuation is rendered guarantees independence and quality. In addition, they should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Federal Reserve also says 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 conforming our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can formulate 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 Advent Appraisals (763) 350-4816, we are skilled in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what the biggest reporting weaknesses are, especially in our real estate market. We also know what amounts to a quality appraisal. In the same sense, the professionals at Advent Appraisals (763) 350-4816 are adequately trained to acknowledge that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to justly look over appraisal reports executed by others. And those others might be examining our work, too!
When you choose Advent Appraisals (763) 350-4816, you can have confidence in our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.