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Experienced Appraisal Reviews by Rose Appraisal AssociatesAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the expectation of appraisers undertaking reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Rose Appraisal Associates provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's guidelines.A review appraisal has to detect: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the methods by which the property valuation is acquired ensures independence and quality. The review must also show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Fed 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 adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we'll formulate an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Rose Appraisal Associates, we are skilled in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
You can depend on Rose Appraisal Associates for our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Rose Appraisal Associates regarding our qualifications, expertise and services offered. |
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We are aware of what the most frequent report deficiencies are, especially in our home market, as well as what represents a quality appraisal.
We're also amply skilled to recognize that the competition in our market are capable of good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust us to ethically look over appraisal reports done by others. And those others may be examining our work, too!