Experienced Appraisal Reviews with Residential Appraisal Services

According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, impartial real estate appraisal and evaluation program," and that appraisers doing reviews have to "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you're looking for appraisal review services that are independent, qualified, professional and in line with the Federal Reserve's rules, just contact Residential Appraisal Services.

If you have questions about an appraisal, or if you need a real estate appraisal review, contact Residential Appraisal Services today.

As stated by the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is suitable for the transaction, the uncertainty of the transaction, and whether the method by which the collateral valuation is accomplished ensures independence and quality." They "should also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the extent of the appraisal assignment." The Federal Reserve also says that "some financial institutions augment periodic reviews with post-funding surveys of appraisal quality for a number of their high-liability or larger-value dealings as a method to aid in exposing valuation problems."

In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Residential Appraisal Services, we're trained in every form of appraisal review, review process and the requirements of review appraisers.

Residential Appraisal Services is aware of what the most frequent defects are, particularly in our housing market, as well as what amounts to a quality appraisal. We're also amply experienced to acknowledge that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on Residential Appraisal Services to fairly evaluate appraisal reports done by others. And those others might be examining our work, too!

For professional, unbiased, ethical appraisal review services and truthful judgments, you can depend on Residential Appraisal Services. Contact us for more information about our qualifications, expertise and services offered.