Qualified Appraisal Reviews with Ascension Appraisal
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Ascension Appraisal provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's rules.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Ascension Appraisal today.
The Federal Reserve says appraisal reviews "should verify whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the means by which the collateral valuation is obtained ensures independence and quality." They "must also indicate whether the appraisal or evaluation report matches the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some banks add periodic reviews with post-funding evaluations of appraisal quality for any of their high-liability or large-value transactions as a means to assist in uncovering valuation dilemmas."
In addition to adjusting our work to the procedures 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 of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Ascension Appraisal, we're experienced in every form of appraisal review, review procedure and the requirements of review appraisers.
We realize what makes a quality appraisal and what the most common inadequacies are, particularly in our real estate market. In the same sense, we're trained enough to realize that the competitors in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to objectively look over appraisal reports performed by others. And those others might be reviewing our work, too!
For professional, fair, ethical appraisal review services and truthful judgments, you can rely on Ascension Appraisal. Contact us for more information about our qualifications, expertise and services offered.