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Competent Appraisal Reviews with First Choice Appraisal Service (219) 863-7711According to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the call of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." First Choice Appraisal Service (219) 863-7711 provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's rules.The purpose of appraisal reviews are to ascertain: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the method by which the real estate valuation is accomplished ensures independence and quality. They should also announce whether the appraisal or evaluation report is in line with the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Federal Reserve goes on to say 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 tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we will prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At First Choice Appraisal Service (219) 863-7711, we're experienced in every form of appraisal review, review practice and the requirements of review appraisers.
You can trust First Choice Appraisal Service (219) 863-7711 for our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings. |
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First Choice Appraisal Service (219) 863-7711 realizes what the greatest reporting deficiencies are, particularly in our home market. We also understand what constitutes a quality appraisal.
We're also amply skilled to distinguish that our competitors in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on First Choice Appraisal Service (219) 863-7711 to objectively look over appraisal reports carried out by others. And those others could be reviewing our work, too!