Appraisal Reviews with REVARI (Real Estate Valuation and Research Inc.)
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation plans," and that appraisers doing reviews must "have the ability and skillfulness to determine compliance with the Federal Reserves appraisal rules and guidelines." REVARI (Real Estate Valuation and Research Inc.) provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact REVARI (Real Estate Valuation and Research Inc.) today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "should indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the outlook of the appraisal assignment." Lastly, the Federal Reserve notes that "some banks add routine reviews with post-funding surveys of appraisal quality for any of their high-liability or large-value dealings as a way to assist in revealing valuation dilemmas."
In addition to adapting our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we will 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 REVARI (Real Estate Valuation and Research Inc.), we're skilled in all types of appraisal reviews, review procedures and the requirements of review appraisers.
We are familiar with what the most prevalent imperfections are, especially in our housing market. We also understand what amounts to a quality appraisal. In this regard, we are adequately experienced to respect that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on us to objectively valuate appraisal reports done by others. And those others might be examining our work, too!
For professional, impartial, ethical appraisal review services and honest judgments, you can count on REVARI (Real Estate Valuation and Research Inc.). Contact REVARI (Real Estate Valuation and Research Inc.) regarding our qualifications, expertise and services offered.