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MANDERFIELD APPRAISAL GROUP Appraisal Reviews
According to a statement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
appraisers completing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at MANDERFIELD APPRAISAL GROUP, we provide appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's rules.
A review appraisal should find out: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the process by which the real estate valuation is obtained guarantees independence and quality.
They should also show whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the scope of the appraisal assignment.
Lastly, the Federal Reserve states 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 adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we can formulate 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 MANDERFIELD APPRAISAL GROUP, we're trained in every form of appraisal review, review practice and the requirements of review appraisers.
MANDERFIELD APPRAISAL GROUP realizes what the most common reporting deficiencies are, particularly in our home market. We also know what amounts to a quality appraisal.
We're also adequately experienced to identify that our competition in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to ethically review appraisal reports carried out by others. And those others might be examining our work, too!
In short, when you choose MANDERFIELD APPRAISAL GROUP, you can trust our independent judgment, because we offer professional, unbiased, ethical appraisal review services for our clients.
Contact MANDERFIELD APPRAISAL GROUP for more information about our qualifications, expertise and services offered.
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