Experienced Appraisal Reviews by Launer & Associates
As said in a statement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews should "have the ability and skills to assess compliance with the Federal Reserves appraisal rules and guidelines." Launer & Associates provides appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you need a real estate appraisal review or have questions about an appraisal, call us today.
Appraisal reviews "must find out whether the appraisal or evaluation is fitting for the transaction, the danger of the transaction, and whether the methods by which the collateral valuation is accomplished guarantees independence and quality," according to the Federal Reserve. Moreover, they "must demonstrate whether the appraisal or evaluation report is even with the engagement letter, which sets forth the capacity of the appraisal assignment." Lastly, the Federal Reserve states that "some banks supplement periodic reviews with post-funding evaluations of appraisal quality for some of their high-risk or larger-value transactions as a control to assist in addressing valuation complications."
In addition to adapting our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Launer & Associates, we're experienced in all forms of appraisal reviews, review processes and the responsibilities of review appraisers.
We are familiar with what constitutes a quality appraisal and what the biggest inadequacies are, specifically in our real estate market. We're also skilled enough to realize that the competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to objectively assess appraisal reports performed by others. And those others may be evaluating our work, too!
Here at Launer & Associates, you can count on our independent judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Launer & Associates regarding our qualifications, expertise and services offered.