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Competent Appraisal Reviews by Arnold Real Estate AppraisalAs 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 duty of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Arnold Real Estate Appraisal provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.A review appraisal has to verify: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the method by which the collateral valuation is acquired guarantees independence and quality. In addition, they must announce whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the extent of the appraisal assignment. Lastly, the Federal Reserve 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".
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually 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. At Arnold Real Estate Appraisal, we are qualified in every kind of appraisal review, review process and the obligations of review appraisers.
At Arnold Real Estate Appraisal, you can rely on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Arnold Real Estate Appraisal to learn more about our qualifications, expertise and service offerings. |
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Arnold Real Estate Appraisal is aware of what the most prevalent reporting weaknesses are, particularly in our real estate market. We also understand what represents a quality appraisal.
In this regard, the professionals at Arnold Real Estate Appraisal are amply trained to respect that the competition in our market are qualified to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to lawfully examine appraisal reports carried out by others. And those others might be studying our work, too!