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Ardent Appraisals & Home Inspections Appraisal ReviewsAs 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 appraisers fulfilling reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Ardent Appraisals & Home Inspections, we provide appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules.A review appraisal should determine: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the practices by which the property valuation is obtained guarantees independence and quality. Moreover, they should show whether the appraisal or evaluation report is in line with the letter of engagement, which describes the outlook of the appraisal assignment. The Fed states 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 forms and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we'll 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 Ardent Appraisals & Home Inspections, we are skilled in all kinds of appraisal reviews, review practices and the obligations of review appraisers.
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on Ardent Appraisals & Home Inspections. Contact Ardent Appraisals & Home Inspections regarding our qualifications, expertise and services offered. |
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We realize what the most frequent report imperfections are, especially in our home market, as well as what makes a quality appraisal.
In the same regard, the professionals at Ardent Appraisals & Home Inspections are adequately skilled to know that our competitors in our market are capable of a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Ardent Appraisals & Home Inspections to justly valuate appraisal reports executed by others. And those others could be evaluating our work, too!