As stated in an announcement by the Federal Reserve, "financial institutions are required to have an effective, objective real estate appraisal and evaluation plan," and that appraisers completing reviews ought to "have the familiarity and skillfulness to determine compliance with the Federal Reserves appraisal regulations and guidelines." At Launer & Associates, we provide appraisal review services that are objective, efficient, professional and in accordance with the Federal Reserve's guidelines.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, call Launer & Associates today.
Appraisal reviews "must figure out whether the appraisal or evaluation is appropriate for the transaction, the risk of the transaction, and whether the manner by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. They "must also show whether the appraisal or evaluation report is even with the letter of engagement, which describes the capacity of the appraisal assignment." The Federal Reserve also states that "some financial institutions augment periodic reviews with post-funding evaluations of appraisal quality for a few of their higher-liability or higher-value dealings as a means to help in identifying valuation complications."
In addition to adjusting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can formulate 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 Launer & Associates, we are skilled in all kinds of appraisal reviews, review processes and the obligations of review appraisers.
We know what the biggest deficiencies are, particularly in our home market, as well as what makes a quality appraisal. In the same regard, we are sufficiently trained to acknowledge that our competitors in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Launer & Associates to ethically assess appraisal reports executed by others. And those others could be reviewing our work, too!
In short, at Launer & Associates, you can count on our honest judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact Launer & Associates for more information about our qualifications, expertise and services offered.