|
Appraisal ReviewsAccording 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 doing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Dattilo Appraisal & Realty Services provides appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's guidelines.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the processes by which the real estate valuation is obtained ensures independence and quality. They must also show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the range of the appraisal assignment. 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 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 one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Dattilo Appraisal & Realty Services, we're skilled in every kind of appraisal review, review procedure and the responsibilities of review appraisers.
For professional, impartial, ethical appraisal review services and neutral judgments, you can rely on Dattilo Appraisal & Realty Services. Contact Dattilo Appraisal & Realty Services to learn more about our qualifications, expertise and services offered. |
|||||||||
We are familiar with what the most frequent report imperfections are, especially in our real estate market, as well as what represents a quality appraisal.
Concurrently, we are professional enough to realize that the competition in our market are capable of doing good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on Dattilo Appraisal & Realty Services to ethically review appraisal reports performed by others. And those others could be evaluating our work, too!