As said in a statement by the Federal Reserve, "financial institutions are required to have an effective, independent real estate appraisal and evaluation program," and that appraisers fulfilling reviews are obligated to "have the ability and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Laurie Hawes Appraisal Service provides appraisal review services that are independent, expert, professional and in line with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "must decide whether the appraisal or evaluation is applicable for the transaction, the uncertainty of the transaction, and whether the methods by which the collateral valuation is attained guarantees independence and quality," the Federal Reserve says. They "must also demonstrate whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the scope of the appraisal assignment." Lastly, the Federal Reserve states that "some institutions add typical reviews with post-funding surveys of appraisal quality for a few of their high-liability or larger-value contracts as a means to assist in exposing valuation problems."
In addition to adjusting our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we can 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. Here at Laurie Hawes Appraisal Service, we're qualified in all types of appraisal reviews, review practices and the obligations of review appraisers.
We realize what makes a quality appraisal and what the biggest inadequacies are, especially in our home market. In this regard, we're proficient enough to distinguish that the competitors in our market are skillful in doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Laurie Hawes Appraisal Service to ethically evaluate appraisal reports completed by others. And those others may be studying our work, too!
In short, at Laurie Hawes Appraisal Service, you can be sure of our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings.