Qualified Appraisal Reviews by Maven Appraisal Services
As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, unbiased real estate appraisal and evaluation plan," and that appraisers completing reviews have to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines, just contact Maven Appraisal Services.
If you need a real estate appraisal review or have questions in reference to an appraisal, call Maven Appraisal Services today.
Appraisal reviews "have to conclude whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "should also demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce periodic reviews with post-funding assessments of appraisal quality for some of their higher-risk or large-value contracts as a channel to help in addressing valuation problems."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Maven Appraisal Services, we are trained in every form of appraisal review, review process and the obligations of review appraisers.
We are aware of what the biggest inadequacies are, specifically in our real estate market, as well as what constitutes a quality appraisal. In this regard, we're proficient enough to acknowledge that the competition in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Maven Appraisal Services to objectively assess appraisal reports completed by others. And those others could be evaluating our work, too!
You can rely on Maven Appraisal Services for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Maven Appraisal Services for more information regarding our qualifications, expertise and service offerings.