According to a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers completing reviews are obligated to "have the ability and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." At Draheim Appraisal Services, LLC, we provide appraisal review services that are objective, expert, professional and compliant with the Federal Reserve's regulations.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, call Draheim Appraisal Services, LLC today.
As stated by the Federal Reserve, appraisal reviews "must figure out whether the appraisal or evaluation is suitable for the transaction, the risk of the transaction, and whether the process by which the collateral valuation is acquired ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is true to the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve states that "some banks reinforce periodic reviews with post-funding assessments of appraisal quality for some of their high-risk or larger-value dealings as a channel to help in detecting valuation disputes."
In addition to adjusting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are typically used for review services, and we will 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 Draheim Appraisal Services, LLC, we are qualified in every kind of appraisal review, review process and the responsibilities of review appraisers.
Draheim Appraisal Services, LLC is aware of what represents a quality appraisal and what the greatest deficiencies are, specifically in our housing market. Concurrently, we are experienced enough to realize that our competition in our market are able to do quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to fairly look over appraisal reports done by others. And those others could be evaluating our work, too!
When you choose Draheim Appraisal Services, LLC, you can rely on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Draheim Appraisal Services, LLC to learn more about our qualifications, expertise and services offered.