Experienced Appraisal Reviews by Village Appraisal Ltd.
According to a statement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation programs," and that appraisers doing reviews ought to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Village Appraisal Ltd. provides appraisal review services that are independent, efficient, professional and square with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the methods by which the collateral valuation is acquired ensures independence and quality." They "should also denote whether the appraisal or evaluation report is true to the engagement letter, which describes the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions reinforce typical reviews with post-funding evaluations of appraisal quality for some of their high-risk or high-value affairs as a means to help in discovering valuation issues."
In addition to coordinating our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are primarily used for review services, and we'll 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 Village Appraisal Ltd., we're trained in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
Village Appraisal Ltd. knows what the most frequent defects are, specifically in our home market, as well as what constitutes a quality appraisal. In this regard, we are sufficiently experienced to distinguish that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to justly valuate appraisal reports carried out by others. And those others could be studying our work, too!
In short, when you choose Village Appraisal Ltd., you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Village Appraisal Ltd. for more information about our qualifications, expertise and services offered.