According to an announcement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews have to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." For appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines, contact Draheim Appraisal Services, LLC.
If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, contact Draheim Appraisal Services, LLC today.
Appraisal reviews "have to decide whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is attained guarantees independence and quality," according to the Federal Reserve. They "must also indicate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks add typical reviews with post-funding surveys of appraisal quality for a number of their higher-risk or higher-value transactions as a means to assist in addressing valuation issues."
In addition to adapting 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. At Draheim Appraisal Services, LLC, we are trained in every type of appraisal review, review practice and the obligations of review appraisers.
We are familiar with what the most frequent defects are, specifically in our real estate market, as well as what constitutes a quality appraisal. The professionals at Draheim Appraisal Services, LLC are also experienced enough to know that the competitors in our market are capable of a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Draheim Appraisal Services, LLC to ethically assess appraisal reports done by others. And those others may be studying our work, too!
In short, when you choose Draheim Appraisal Services, LLC, you can trust our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.