Judge Appraisal Appraisal Reviews
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the ability and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Judge Appraisal provides appraisal review services that are objective, expert, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is accomplished ensures independence and quality." In addition, they "should show whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add typical reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value dealings as a method to assist in identifying valuation disputes."
In addition to tailoring our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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 Judge Appraisal, we are skilled in every type of appraisal review, review practice and the responsibilities of review appraisers.
Judge Appraisal knows what the most frequent weaknesses are, particularly in our real estate market, as well as what constitutes a quality appraisal. The professionals at Judge Appraisal are also trained enough to distinguish that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Judge Appraisal to objectively examine appraisal reports done by others. And those others might be examining our work, too!
In short, here at Judge Appraisal, you can rely on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.