As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." At Appraiz-it, LLC, we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Appraiz-it, LLC today.
According to the Federal Reserve, appraisal reviews "ought to conclude whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions supplement periodic reviews with post-funding surveys of appraisal quality for some of their higher-risk or greater-value transactions as a way to aid in uncovering valuation dilemmas."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can formulate 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 Appraiz-it, LLC, we are skilled in every type of appraisal review, review practice and the obligations of review appraisers.
Appraiz-it, LLC understands what the most frequent deficiencies are, especially in our real estate market. We also know what constitutes a quality appraisal. We're also adequately experienced to admit that the competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Appraiz-it, LLC to justly assess appraisal reports done by others. And those others might be reviewing our work, too!
When you choose Appraiz-it, LLC, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Appraiz-it, LLC for more information regarding our qualifications, expertise and services offered.