Complete Appraisal Reviews with Marketwise Appraisal, LLCAs stated 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 engaged in reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Marketwise Appraisal, LLC, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.
The purpose of appraisal reviews are to detect: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the procedures by which the collateral valuation is accomplished guarantees independence and quality. In addition, they should denote whether the appraisal or evaluation report is in line with the letter of engagement, which describes the scope of the appraisal assignment. Lastly, the Federal Reserve says 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 processes and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can produce 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 Marketwise Appraisal, LLC, we're qualified in every type of appraisal review, review procedure and the responsibilities of review appraisers.
We're aware of what amounts to a quality appraisal and what the most prevalent deficiencies are, especially in our local real estate market. In the same sense, we are adequately skilled to realize that the competition in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on Marketwise Appraisal, LLC to lawfully evaluate appraisal reports performed by others. And those others might be reviewing our work, too!
In short, when you choose Marketwise Appraisal, LLC, you can trust our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.