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Expert Appraisal Reviews with Feasel Appraisal
As 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
it's the call of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Feasel Appraisal provides appraisal review services that are unbiased, efficient, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the practices by which the collateral valuation is rendered ensures independence and quality.
In addition, they must demonstrate whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the outlook 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".
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If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today. |
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In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
At Feasel Appraisal, we're trained in all kinds of appraisal reviews, review processes and the responsibilities of review appraisers.
Feasel Appraisal is aware of what the most common reporting deficiencies are, specifically in our housing market. We also know what represents a quality appraisal.
In this regard, we're skilled enough to respect that the competition in our market are capable of doing a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly valuate appraisal reports done by others. And those others could be studying our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on Feasel Appraisal.
Contact Feasel Appraisal for more information about our qualifications, expertise and service offerings.
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