Appraisal Reviews with Las Vegas Appraisal Service, Inc.
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, independent real estate appraisal and evaluation plan," and that appraisers doing reviews have to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." Las Vegas Appraisal Service, Inc. provides appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Las Vegas Appraisal Service, Inc. today.
As stated by the Federal Reserve, appraisal reviews "have to decide whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality." They "should also demonstrate whether the appraisal or evaluation report is consistent with the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve notes that "some financial institutions augment regular reviews with post-funding assessments of appraisal quality for some of their high-risk or large-value contracts as a method to aid in uncovering valuation complications."
In addition to adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we'll develop 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 are qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
We are familiar with what the most prevalent imperfections are, specifically in our real estate market. We also know what represents a quality appraisal. In the same sense, we are professional enough to admit that our competitors in our market are capable of doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to ethically review appraisal reports executed by others. And those others could be examining our work, too!
For professional, unbiased, ethical appraisal review services and independent judgments, you can rely on Las Vegas Appraisal Service, Inc.. Contact Las Vegas Appraisal Service, Inc. to learn more about our qualifications, expertise and service offerings.