Appraisal Reviews with Launer & Associates
According to a statement by the Federal Reserve, "financial institutions must have an effective, objective real estate appraisal and evaluation program," and that appraisers performing reviews must "have the knowledge and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Launer & Associates provides appraisal review services that are objective, qualified, professional and compliant with the Federal Reserve's rules.
If you have questions about an appraisal, or if you need a real estate appraisal review, call Launer & Associates today.
According to the Federal Reserve, appraisal reviews "should conclude whether the appraisal or evaluation is relevant for the transaction, the liability of the transaction, and whether the manner by which the collateral valuation is acquired ensures independence and quality." They "should also show whether the appraisal or evaluation report matches the engagement letter, which sets forth the scope of the appraisal assignment." Lastly, the Federal Reserve says that "some institutions augment routine reviews with post-funding evaluations of appraisal quality for some of their high-liability or larger-value transactions as a method to assist in detecting valuation issues."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we will 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 Launer & Associates, we're skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We're aware of what the biggest imperfections are, particularly in our housing market, as well as what represents a quality appraisal. In the same sense, we are professional enough to respect that our competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to fairly evaluate appraisal reports carried out by others. And those others might be examining our work, too!
You can depend on Launer & Associates for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Launer & Associates for more information about our qualifications, expertise and service offerings.