|
Appraisal Reviews with New Age Appraisal CorpAccording to 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 prudent for appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." New Age Appraisal Corp provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's rules.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the method by which the property valuation is obtained ensures independence and quality. They should also announce whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the depth of the appraisal assignment. The Federal Reserve also states 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 processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At New Age Appraisal Corp, we're skilled in every kind of appraisal review, review practice and the requirements of review appraisers.
For professional, impartial, ethical appraisal review services and honest judgments, you can depend on New Age Appraisal Corp. Contact us for more information about our qualifications, expertise and services offered. |
|||||||||
We are aware of what constitutes a quality appraisal and what the most prevalent deficiencies are, particularly in our local housing market.
In the same regard, we are experienced enough to admit that our competitors in our market are able to do a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully assess appraisal reports carried out by others. And those others may be examining our work, too!