Appraisal Reviews by Launer & Associates
As said in a statement by the Federal Reserve, "financial institutions are required to have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews ought to "have the ability and skillfulness to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Launer & Associates provides appraisal review services that are objective, qualified, professional and in accordance with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you're in the need of a real estate appraisal review, contact Launer & Associates today.
As stated by the Federal Reserve, appraisal reviews "must decide whether the appraisal or evaluation is fitting for the transaction, the liability of the transaction, and whether the methods by which the collateral valuation is accomplished ensures independence and quality." They "must also show whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the outlook of the appraisal assignment." The Federal Reserve also says that "some financial institutions reinforce routine reviews with post-funding assessments of appraisal quality for any of their higher-risk or larger-value affairs as a means to assist in detecting valuation issues."
In addition to conforming our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we can 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 Launer & Associates, we are qualified in every type of appraisal review, review process and the obligations of review appraisers.
Launer & Associates is aware of what the biggest inadequacies are, particularly in our housing market, as well as what represents a quality appraisal. In the same regard, we are trained enough to distinguish that the competitors in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically examine appraisal reports done by others. And those others may be evaluating our work, too!
You can count on Launer & Associates for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Launer & Associates regarding our qualifications, expertise and services offered.