According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers doing reviews must "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Draheim Appraisal Services, LLC provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
Appraisal reviews "ought to determine whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "should also denote whether the appraisal or evaluation report is consistent with the engagement letter, which describes the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks augment regular reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value contracts as a method to aid in addressing valuation problems."
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can 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 Draheim Appraisal Services, LLC, we are trained in all forms of appraisal reviews, review procedures and the requirements of review appraisers.
Draheim Appraisal Services, LLC is aware of what makes a quality appraisal and what the biggest weaknesses are, especially in our housing market. Concurrently, the professionals at Draheim Appraisal Services, LLC are amply experienced to recognize that the competition in our market are capable of doing good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to justly study appraisal reports carried out by others. And those others may be studying our work, too!
At Draheim Appraisal Services, LLC, you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.