Qualified Appraisal Reviews by Draheim Appraisal Services, LLC
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews should "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, qualified, professional and in accordance with the Federal Reserve's rules, look no further than Draheim Appraisal Services, LLC.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Draheim Appraisal Services, LLC today.
The Federal Reserve says appraisal reviews "ought to decide whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the procedure by which the collateral valuation is acquired guarantees independence and quality." In addition, they "must demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also notes that "some institutions reinforce routine reviews with post-funding surveys of appraisal quality for some of their higher-risk or high-value dealings as a means to help in uncovering valuation concerns."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Draheim Appraisal Services, LLC, we're trained in every type of appraisal review, review practice and the responsibilities of review appraisers.
We are aware of what amounts to a quality appraisal and what the biggest weaknesses are, particularly in our home market. At the same time, we're adequately skilled to identify that our competitors in our market are capable of doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to fairly study appraisal reports executed by others. And those others might be reviewing our work, too!
At Draheim Appraisal Services, LLC, you can rely on our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.