Quality Appraisal Reviews with Owen Appraisal Service LLC
According to an announcement by the Federal Reserve, "financial institutions must have an effective, unbiased real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the knowledge and expertise to determine compliance with the Federal Reserves appraisal regulations and guidelines." If you need appraisal review services that are independent, qualified, professional and square with the Federal Reserve's rules, look no further than Owen Appraisal Service LLC.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Owen Appraisal Service LLC today.
According to the Federal Reserve, appraisal reviews "must find out whether the appraisal or evaluation is suitable for the transaction, the liability of the transaction, and whether the manners by which the collateral valuation is acquired ensures independence and quality." They "should also show whether the appraisal or evaluation report is even with the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some banks augment regular reviews with post-funding surveys of appraisal quality for some of their high-liability or greater-value transactions as a way to help in discovering valuation dilemmas."
In addition to conforming our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can produce 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 Owen Appraisal Service LLC, we're skilled in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
We know what represents a quality appraisal and what the greatest imperfections are, specifically in our housing market. In the same regard, we're professional enough to know that our competition in our market are able to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully examine appraisal reports carried out by others. And those others might be studying our work, too!
Here at Owen Appraisal Service LLC, you can count on our truthful judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Owen Appraisal Service LLC for more information about our qualifications, expertise and service offerings.