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Competent Appraisal Reviews by Home Value Inc.As said in a statement 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 performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Home Value Inc., we provide appraisal review services that are independent, qualified, professional and in accordance with the Federal Reserve's regulations.A review appraisal has to pursue: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the actions by which the property valuation is acquired guarantees independence and quality. The review must also signify whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the range of the appraisal assignment. Lastly, the Fed says 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 adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Home Value Inc., we're trained in all forms of appraisal reviews, review practices and the requirements of review appraisers.
For professional, unbiased, ethical appraisal review services and neutral judgments, you can depend on Home Value Inc.. Contact us regarding our qualifications, expertise and service offerings. |
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We understand what represents a quality appraisal and what the biggest defects are, specifically when it comes to our home market.
The professionals at Home Value Inc. are also trained enough to know that the competitors in our market are skillful in doing a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to fairly review appraisal reports completed by others. And those others may be studying our work, too!