Appraisal Reviews with ASC Professionals, LLCAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers doing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At ASC Professionals, LLC, we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the practices by which the collateral valuation is attained guarantees independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which describes the capacity of the appraisal assignment. Lastly, the Fed says 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".
|If you're in the need of a real estate appraisal review or have questions in reference to an appraisal, call ASC Professionals, LLC today.|
In addition to tailoring our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we'll develop 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 ASC Professionals, LLC, we're experienced in all forms of appraisal reviews, review practices and the requirements of review appraisers.
ASC Professionals, LLC realizes what constitutes a quality appraisal and what the most prevalent deficiencies are, particularly for reports in our local housing market. We're also skilled enough to respect that the competition in our market are skillful in doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust ASC Professionals, LLC to lawfully examine appraisal reports performed by others. And those others could be reviewing our work, too!
For professional, fair, ethical appraisal review services and honest judgments, you can depend on ASC Professionals, LLC. Contact us regarding our qualifications, expertise and service offerings.