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Carden Appraisals Appraisal ReviewsAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Carden Appraisals, we provide appraisal review services that are unbiased, expert, professional and square with the Federal Reserve's rules.The purpose of appraisal reviews are to find out: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the processes by which the collateral valuation is rendered guarantees independence and quality. Moreover, they must denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the outlook of the appraisal assignment. The Fed 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 adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can 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 Carden Appraisals, we're skilled in every kind of appraisal review, review process and the requirements of review appraisers.
At Carden Appraisals, you can count on our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact Carden Appraisals to learn more about our qualifications, expertise and service offerings. |
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We understand what amounts to a quality appraisal and what the greatest imperfections are, especially when it comes to our local housing market.
In the same sense, we are experienced enough to know that our competition in our market are skillful in doing a good job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can trust Carden Appraisals to ethically valuate appraisal reports completed by others. And those others might be evaluating our work, too!