DB Appraisal Services, Inc Appraisal ReviewsAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers engaged in reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At DB Appraisal Services, Inc, we provide appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's guidelines.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the method by which the real estate valuation is rendered guarantees independence and quality. They must also indicate whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the depth of the appraisal assignment. Lastly, the Federal Reserve says 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 adjusting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we'll prepare an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At DB Appraisal Services, Inc, we are experienced in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
DB Appraisal Services, Inc understands what the most prevalent reporting imperfections are, particularly in our real estate market. We also know what represents a quality appraisal. The professionals at DB Appraisal Services, Inc are also adequately skilled to distinguish that our competition in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to fairly evaluate appraisal reports completed by others. And those others could be studying our work, too!
You can depend on DB Appraisal Services, Inc for our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and services offered.