Quality Appraisal Reviews with Trust Appraisal GroupAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Trust Appraisal Group , we provide appraisal review services that are impartial, efficient, professional and square with the Federal Reserve's rules.
The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the manner by which the real estate valuation is obtained guarantees independence and quality. They must also signify whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the depth of the appraisal assignment. The Federal Reserve also states 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 practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will 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 Trust Appraisal Group , we're trained in all types of appraisal reviews, review procedures and the requirements of review appraisers.
Trust Appraisal Group knows what constitutes a quality appraisal and what the greatest errors are, particularly when it comes to our local real estate market. The professionals at Trust Appraisal Group are also sufficiently experienced to realize that the competition in our market are capable of a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Trust Appraisal Group to justly valuate appraisal reports carried out by others. And those others could be examining our work, too!
In short, at Trust Appraisal Group , you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered.