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Competent Appraisal Reviews by Value Able LLCAs said in 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 expectation of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Value Able LLC, we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's rules.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the procedures by which the property valuation is attained ensures independence and quality. In addition, they should indicate whether the appraisal or evaluation report is in line with the engagement letter, which describes the extent of the appraisal assignment. The Federal Reserve 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 procedures and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we can prepare 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 Value Able LLC, we are qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
For professional, impartial, ethical appraisal review services and independent judgments, you can count on Value Able LLC. Contact us to learn more about our qualifications, expertise and service offerings. |
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We are aware of what makes a quality appraisal and what the most common defects are, specifically in our local real estate market.
In the same sense, we're adequately trained to identify that our competitors in our market are able to do quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Value Able LLC to objectively look over appraisal reports executed by others. And those others may be studying our work, too!