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Qualified Appraisal Reviews by Ashley Real EstateAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the call of appraisers fulfilling reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Ashley Real Estate provides appraisal review services that are independent, efficient, professional and in line with the Federal Reserve's guidelines.The purpose of appraisal reviews are to pursue: whether the original appraisal or evaluation is pertinent for the transaction, the liability inherit in the transaction, and whether the methods by which the real estate valuation is obtained guarantees independence and quality. They should also indicate whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the range of the appraisal assignment. Lastly, the Federal Reserve also notes 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 tailoring our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 Ashley Real Estate, we're trained in every kind of appraisal review, review process and the responsibilities of review appraisers.
In short, here at Ashley Real Estate, you can rely on our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact Ashley Real Estate for more information regarding our qualifications, expertise and service offerings. |
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We are aware of what the greatest reporting imperfections are, particularly in our housing market. We also know what amounts to a quality appraisal.
In the same regard, we are experienced enough to acknowledge that our competition in our market are skillful in doing good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on Ashley Real Estate to ethically examine appraisal reports executed by others. And those others may be studying our work, too!