Appraisal Reviews by Real Property Metrics
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation plans," and that appraisers completing reviews must "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines, look no further than Real Property Metrics.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Real Property Metrics today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is well-suited for the transaction, the liability of the transaction, and whether the procedure by which the collateral valuation is accomplished ensures independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which sets forth the extent of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions reinforce regular reviews with post-funding evaluations of appraisal quality for some of their high-liability or high-value dealings as a way to aid in revealing valuation dilemmas."
In addition to coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Real Property Metrics, we are trained in every type of appraisal review, review procedure and the requirements of review appraisers.
We realize what the most prevalent weaknesses are, particularly in our home market, as well as what constitutes a quality appraisal. In the same sense, we're proficient enough to acknowledge that our competition in our market are qualified to do a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to lawfully study appraisal reports completed by others. And those others may be studying our work, too!
You can rely on Real Property Metrics for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.