Expert Appraisal Reviews with Appraisals Online, IncAccording 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." Here at Appraisals Online, Inc, we provide appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's rules.
A review appraisal should determine: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the processes by which the property valuation is acquired ensures independence and quality. They must also indicate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the reach of the appraisal assignment. Lastly, the Federal Reserve 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 tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we'll develop 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 Appraisals Online, Inc, we are qualified in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
Appraisals Online, Inc is aware of what makes a quality appraisal and what the most common inadequacies are, especially for reports in our home market. At the same time, we're amply trained to realize that the competitors in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Appraisals Online, Inc to ethically study appraisal reports completed by others. And those others might be examining our work, too!
In short, here at Appraisals Online, Inc, you can trust our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Appraisals Online, Inc to learn more about our qualifications, expertise and services offered.