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Complete Appraisal Reviews with Academy Appraisal, LLCAs stated in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers producing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Academy Appraisal, LLC, we provide appraisal review services that are objective, efficient, professional and square with the Federal Reserve's guidelines.A review appraisal should verify: whether the original appraisal or evaluation is relevant for the transaction, the liability inherit in the transaction, and whether the process by which the real estate valuation is attained ensures independence and quality. The review must also demonstrate whether the appraisal or evaluation report is consistent 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".
In addition to coordinating our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are widely used for review services, and we can 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 Academy Appraisal, LLC, we're trained in all forms of appraisal reviews, review procedures and the responsibilities of review appraisers.
For professional, unbiased, ethical appraisal review services and truthful judgments, you can depend on Academy Appraisal, LLC. Contact Academy Appraisal, LLC for more information regarding our qualifications, expertise and services offered. |
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We are familiar with what the most common reporting deficiencies are, particularly in our real estate market. We also understand what makes a quality appraisal.
In this regard, we're sufficiently experienced to recognize that the competition in our market are skillful in doing good work.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to ethically examine appraisal reports executed by others. And those others might be studying our work, too!