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John Alve, Real Estate Appraisals Appraisal ReviewsAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at John Alve, Real Estate Appraisals, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's rules.A review appraisal should pursue: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the procedures by which the collateral valuation is accomplished ensures independence and quality. The review must also denote whether the appraisal or evaluation report is true to the engagement letter, which sets forth the reach of the appraisal assignment. The Fed also goes on to say 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 adapting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we'll 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 John Alve, Real Estate Appraisals, we're trained in every type of appraisal review, review practice and the requirements of review appraisers.
You can rely on John Alve, Real Estate Appraisals for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact John Alve, Real Estate Appraisals to learn more about our qualifications, expertise and services offered. |
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We realize what represents a quality appraisal and what the greatest imperfections are, particularly when it comes to our local housing market.
In the same regard, we are professional enough to identify that our competitors in our market are capable of a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on John Alve, Real Estate Appraisals to fairly valuate appraisal reports executed by others. And those others could be examining our work, too!