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Appraisal Reviews by G&S Appraisal Service, LLC
As stated in 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 prudent for appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at G&S Appraisal Service, LLC, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's guidelines.
A review appraisal has to find out: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the actions by which the property valuation is rendered ensures independence and quality.
In addition, they should show whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the extent of the appraisal assignment.
Lastly, the Fed notes 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".
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If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today. |
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In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will 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 G&S Appraisal Service, LLC, we're qualified in every form of appraisal review, review practice and the obligations of review appraisers.
We understand what the greatest reporting imperfections are, specifically in our housing market. We also understand what makes a quality appraisal.
We're also experienced enough to recognize that the competition in our market are capable of doing good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on G&S Appraisal Service, LLC to fairly review appraisal reports performed by others. And those others might be evaluating our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can count on G&S Appraisal Service, LLC.
Contact G&S Appraisal Service, LLC for more information regarding our qualifications, expertise and services offered.
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