Expert Appraisal Reviews by Las Palmas Appraisals
As said in a statement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the proficiency and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Las Palmas Appraisals, we provide appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "must determine whether the appraisal or evaluation is relevant for the transaction, the uncertainty of the transaction, and whether the means by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "must also denote whether the appraisal or evaluation report is compatible with the engagement letter, which sets forth the range of the appraisal assignment." The Federal Reserve also notes that "some financial institutions add periodic reviews with post-funding assessments of appraisal quality for a few of their higher-risk or high-value contracts as a channel to help in addressing valuation disputes."
In addition to adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Las Palmas Appraisals, we're qualified in every kind of appraisal review, review process and the requirements of review appraisers.
We realize what represents a quality appraisal and what the most common imperfections are, particularly in our housing market. In the same sense, we are sufficiently skilled to realize that the competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to ethically look over appraisal reports performed by others. And those others could be reviewing our work, too!
In short, here at Las Palmas Appraisals, you can rely on our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Las Palmas Appraisals for more information about our qualifications, expertise and services offered.