Complete Appraisal Reviews with Metro Mountain Appraisers Inc.As stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers engaged in reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Metro Mountain Appraisers Inc. provides appraisal review services that are unbiased, expert, professional and in accordance with the Federal Reserve's rules.
A review appraisal should reveal: whether the original appraisal or evaluation is applicable for the transaction, the exposure inherit in the transaction, and whether the manners by which the real estate valuation is attained guarantees independence and quality. They should also announce whether the appraisal or evaluation report matches the engagement letter, which gives an account of the scope of the appraisal assignment. 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 coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will prepare 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 Metro Mountain Appraisers Inc., we're experienced in every type of appraisal review, review practice and the responsibilities of review appraisers.
We understand what the most likely report defects are, especially in our real estate market, as well as what makes a quality appraisal. The professionals at Metro Mountain Appraisers Inc. are also trained enough to recognize that the competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Metro Mountain Appraisers Inc. to fairly assess appraisal reports done by others. And those others might be studying our work, too!
At Metro Mountain Appraisers Inc., you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.