Complete Appraisal Reviews with Abell Appraisal Services, 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 call of appraisers performing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Abell Appraisal Services, Inc. provides appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's regulations.
A review appraisal should find out: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the manner by which the real estate valuation is obtained guarantees independence and quality. They must also show whether the appraisal or evaluation report matches the letter of engagement, which describes the depth of the appraisal assignment. Lastly, the Federal Reserve 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 tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Abell Appraisal Services, Inc., we are experienced in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Abell Appraisal Services, Inc. understands what the typical report deficiencies are, specifically in our housing market, as well as what amounts to a quality appraisal. Concurrently, we are proficient enough to acknowledge that the competition in our market are able 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 Abell Appraisal Services, Inc. to justly assess appraisal reports done by others. And those others could be studying our work, too!
You can rely on Abell Appraisal Services, Inc. for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.