Quality Appraisal Reviews with Russell Appraisal Service
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, objective real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews have to "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal rules and guidelines." Russell Appraisal Service provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Russell Appraisal Service today.
As stated by the Federal Reserve, appraisal reviews "ought to figure out whether the appraisal or evaluation is pertinent for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is attained ensures independence and quality." In addition, they "should signify whether the appraisal or evaluation report is even with the engagement letter, which gives an account of the outlook of the appraisal assignment." Last, The Federal Reserve says that "some banks reinforce typical reviews with post-funding surveys of appraisal quality for a number of their higher-liability or higher-value transactions as a channel to aid in discovering valuation dilemmas."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Russell Appraisal Service, we are skilled in every kind of appraisal review, review practice and the requirements of review appraisers.
We are aware of what the most prevalent imperfections are, particularly in our home market. We also know what represents a quality appraisal. In the same regard, the professionals at Russell Appraisal Service are sufficiently experienced to admit that the competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Russell Appraisal Service to objectively look over appraisal reports performed by others. And those others could be evaluating our work, too!
For professional, objective, ethical appraisal review services and neutral judgments, you can count on Russell Appraisal Service. Contact us regarding our qualifications, expertise and service offerings.