|
Appraisal ReviewsAccording to 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 expectation of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at ADB Properties, Inc., we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.A review appraisal should pursue: whether the original appraisal or evaluation is applicable for the transaction, the liability inherit in the transaction, and whether the procedure by which the real estate valuation is accomplished ensures independence and quality. The review must also demonstrate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the range of the appraisal assignment. Lastly, 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 processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we will produce 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 ADB Properties, Inc., we're trained in every form of appraisal review, review process and the obligations of review appraisers.
In short, when you choose ADB Properties, Inc., you can count on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered. |
|||||||||
We're aware of what the biggest reporting inadequacies are, especially in our housing market. We also know what makes a quality appraisal.
Concurrently, we are trained enough to know that the competitors in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust ADB Properties, Inc. to fairly examine appraisal reports completed by others. And those others may be evaluating our work, too!