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Appraisal ReviewsAs said in 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 call of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Antietam Appraisals provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's regulations.A review appraisal should pursue: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the process by which the collateral valuation is obtained ensures independence and quality. Moreover, they must announce whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the outlook of the appraisal assignment. Lastly, the Fed notes 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 adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly 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. At Antietam Appraisals, we're trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.
At Antietam Appraisals, you can count on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Antietam Appraisals regarding our qualifications, expertise and services offered. |
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We're aware of what the typical report defects are, especially in our home market, as well as what represents a quality appraisal.
We're also adequately skilled to identify that our competitors in our market are capable of a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to justly evaluate appraisal reports done by others. And those others could be studying our work, too!