Expert Appraisal Reviews with AllieRealty LLCAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers undertaking reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at AllieRealty LLC, we provide appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
A review appraisal should verify: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the manner by which the property valuation is accomplished guarantees independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment. 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 coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will produce 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 AllieRealty LLC, we are skilled in all forms of appraisal reviews, review practices and the requirements of review appraisers.
We know what the most prevalent report defects are, particularly in our housing market, as well as what amounts to a quality appraisal. We're also skilled enough to respect that the competitors in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to objectively evaluate appraisal reports carried out by others. And those others could be studying our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can rely on AllieRealty LLC. Contact AllieRealty LLC for more information about our qualifications, expertise and service offerings.