Expert Appraisal Reviews with S. Peters and Associates, Inc
According to a statement by the Federal Reserve, "financial institutions are required to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers performing reviews should "have the proficiency and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." At S. Peters and Associates, Inc, we provide appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call S. Peters and Associates, Inc today.
Appraisal reviews "must find 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 accomplished guarantees independence and quality," according to the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the letter of engagement, which gives an account of the extent of the appraisal assignment." The Federal Reserve also says that "some institutions augment routine reviews with post-funding assessments of appraisal quality for some of their high-liability or higher-value transactions as a channel to assist in detecting valuation problems."
In addition to adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely 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 S. Peters and Associates, Inc, we are trained in all types of appraisal reviews, review processes and the requirements of review appraisers.
We realize what the greatest imperfections are, especially in our real estate market, as well as what represents a quality appraisal. In this regard, we're skilled enough to identify that our competition in our market are able to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust us to objectively examine appraisal reports done by others. And those others might be studying our work, too!
For professional, impartial, ethical appraisal review services and truthful judgments, you can depend on S. Peters and Associates, Inc. Contact S. Peters and Associates, Inc for more information regarding our qualifications, expertise and service offerings.