Quality Appraisal Reviews by Larry Jr AppraisalsAs said in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Larry Jr Appraisals provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations. 
If you need a real estate appraisal review or have questions in reference to an appraisal, call us today. According to the Federal Reserve, appraisal reviews "ought to verify whether the appraisal or evaluation is relevant for the transaction, the danger of the transaction, and whether the procedure by which the collateral valuation is collected guarantees independence and quality." Moreover, they "must show whether the appraisal or evaluation report is compatible with the engagement letter, which describes the scope of the appraisal assignment." Last, The Federal Reserve notes that "some institutions augment typical reviews with post-funding assessments of appraisal quality for a few of their higher-liability or greater-value transactions as a method to help in revealing valuation concerns." In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we will prepare 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 Larry Jr Appraisals, we are trained in every form of appraisal review, review process and the responsibilities of review appraisers. Larry Jr Appraisals knows what makes a quality appraisal and what the most common deficiencies are, particularly in our housing market. Concurrently, we're proficient enough to admit that the competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to justly evaluate appraisal reports executed by others. And those others may be reviewing our work, too! In short, at Larry Jr Appraisals, you can trust our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Larry Jr Appraisals regarding our qualifications, expertise and service offerings. |