Appraisal Life, LLC Appraisal ReviewsAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the duty of appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Appraisal Life, LLC provides appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's regulations.
A review appraisal has to ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the exposure inherit in the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality. In addition, they must announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the capacity of the appraisal assignment. Lastly, the Fed also says 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 coordinating our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll 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. Here at Appraisal Life, LLC, we're qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
We are aware of what the most likely report deficiencies are, particularly in our housing market, as well as what makes a quality appraisal. We're also amply experienced to distinguish that our competitors in our market are able to do a great job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Appraisal Life, LLC to ethically study appraisal reports completed by others. And those others could be studying our work, too!
For professional, fair, ethical appraisal review services and neutral judgments, you can count on Appraisal Life, LLC. Contact Appraisal Life, LLC regarding our qualifications, expertise and services offered.