|
KV Appraisal Service 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 appraisers preparing reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At KV Appraisal Service, we provide appraisal review services that are objective, efficient, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the process by which the collateral valuation is acquired guarantees independence and quality. Moreover, they must demonstrate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the capacity of the appraisal assignment. The Fed goes on to say 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 conforming our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at KV Appraisal Service, we are qualified in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
In short, at KV Appraisal Service, you can be sure of our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact KV Appraisal Service for more information regarding our qualifications, expertise and service offerings. |
|||||||||
KV Appraisal Service understands what represents a quality appraisal and what the greatest deficiencies are, particularly in our local real estate market.
We're also experienced enough to recognize that our competitors in our market are capable of doing a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on us to objectively evaluate appraisal reports executed by others. And those others may be reviewing our work, too!