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Greenaway Appraisals Appraisal ReviewsAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the call of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Greenaway Appraisals provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's rules.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is suitable for the transaction, the liability inherit in the transaction, and whether the practices by which the real estate valuation is attained guarantees independence and quality. In addition, they must indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment. Lastly, the Federal Reserve also 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 tailoring our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 Greenaway Appraisals, we are experienced in every form of appraisal review, review practice and the responsibilities of review appraisers.
Here at Greenaway Appraisals, you can count on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings. |
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We are familiar with what the biggest reporting inadequacies are, especially in our housing market. We also know what constitutes a quality appraisal.
In the same sense, we're amply skilled to admit that our competition in our market are capable of doing a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to fairly look over appraisal reports carried out by others. And those others could be studying our work, too!