|
|
Expert Appraisal Reviews by Parkway Appraisals
According to an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
it's the obligation of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Parkway Appraisals provides appraisal review services that are unbiased, expert, professional and in line with the Federal Reserve's guidelines.
A review appraisal has to reveal: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the processes by which the property valuation is accomplished ensures independence and quality.
The review should also denote whether the appraisal or evaluation report is in line with the letter of engagement, which gives an account of the extent of the appraisal assignment.
The Fed also goes on to say 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".
 |
 |
 |
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today. |
|
|
In addition to tailoring our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll prepare an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
Here at Parkway Appraisals, we're experienced in all types of appraisal reviews, review processes and the requirements of review appraisers.
We're aware of what makes a quality appraisal and what the most frequent deficiencies are, especially for reports in our local real estate market.
We're also trained enough to recognize that our 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 trust Parkway Appraisals to objectively look over appraisal reports carried out by others. And those others could be reviewing our work, too!
In short, at Parkway Appraisals, you can rely on our neutral judgment, because we offer professional, unbiased, ethical appraisal review services for our customers.
Contact us to learn more about our qualifications, expertise and services offered.
|
|
