Qualified Appraisal Reviews by Las Vegas Appraisal Service, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers doing reviews are obligated to "have the proficiency and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." At Las Vegas Appraisal Service, Inc., we provide appraisal review services that are objective, expert, professional and in line with the Federal Reserve's rules.
If you need a real estate appraisal review or have questions regarding an appraisal, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to determine whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is acquired ensures independence and quality." Moreover, they "must indicate whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment routine reviews with post-funding assessments of appraisal quality for some of their high-liability or high-value dealings as a control to aid in revealing valuation issues."
In addition to adapting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are normally 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. At Las Vegas Appraisal Service, Inc., we're experienced in every form of appraisal review, review procedure and the responsibilities of review appraisers.
Las Vegas Appraisal Service, Inc. understands what the most frequent defects are, especially in our real estate market. We also know what makes a quality appraisal. Concurrently, we're proficient enough to acknowledge that our competition in our market are qualified to do a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Las Vegas Appraisal Service, Inc. to ethically look over appraisal reports completed by others. And those others might be studying our work, too!
You can rely on Las Vegas Appraisal Service, Inc. for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and services offered.