Appraisal Reviews with Draheim Appraisal Services, LLC
According to an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Draheim Appraisal Services, LLC provides appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.
If you're in the need of a real estate appraisal review or have questions regarding an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "ought to decide whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality." In addition, they "should announce whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." Last, The Federal Reserve states that "some financial institutions supplement typical reviews with post-funding surveys of appraisal quality for any of their high-risk or large-value dealings as a channel to help in revealing valuation problems."
In addition to conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll 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 Draheim Appraisal Services, LLC, we're trained in all types of appraisal reviews, review processes and the requirements of review appraisers.
Draheim Appraisal Services, LLC understands what makes a quality appraisal and what the biggest inadequacies are, specifically in our housing market. We're also experienced enough to admit that the competitors in our market are able to do a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Draheim Appraisal Services, LLC to ethically study appraisal reports executed by others. And those others might be examining our work, too!
For professional, unbiased, ethical appraisal review services and honest judgments, you can depend on Draheim Appraisal Services, LLC. Contact us regarding our qualifications, expertise and services offered.