Quality Appraisal Reviews with REVARI (Real Estate Valuation and Research Inc.)
As stated in an announcement by the Federal Reserve, "financial institutions must have effective, independent real estate appraisal and evaluation procedures," and that appraisers performing reviews ought to "have the familiarity and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." At REVARI (Real Estate Valuation and Research Inc.), we provide appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you're in the need of a real estate appraisal review or have questions about an appraisal, call REVARI (Real Estate Valuation and Research Inc.) today.
According to the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is appropriate for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is attained guarantees independence and quality." In addition, they "should demonstrate whether the appraisal or evaluation report is true to the letter of engagement, which describes the extent of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce routine reviews with post-funding surveys of appraisal quality for a few of their higher-risk or larger-value affairs as a control to assist in detecting valuation complications."
In addition to adapting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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. Here at REVARI (Real Estate Valuation and Research Inc.), we're experienced in every type of appraisal review, review process and the responsibilities of review appraisers.
REVARI (Real Estate Valuation and Research Inc.) is aware of what the most common weaknesses are, specifically in our home market. We also understand what constitutes a quality appraisal. In this regard, we are adequately experienced to distinguish that the competition in our market are capable of good work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on REVARI (Real Estate Valuation and Research Inc.) to justly valuate appraisal reports completed by others. And those others could be evaluating our work, too!
In short, at REVARI (Real Estate Valuation and Research Inc.), you can count on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.