|
Complete Appraisal Reviews with Lone Star AppraisalsAs 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 compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Lone Star Appraisals provides appraisal review services that are unbiased, efficient, professional and in accordance with the Federal Reserve's guidelines.A review appraisal should detect: whether the original appraisal or evaluation is appropriate for the transaction, the risk inherit in the transaction, and whether the processes by which the real estate valuation is acquired ensures independence and quality. The review should also show whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the extent of the appraisal assignment. Lastly, the Fed also states 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 coordinating our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we'll 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 Lone Star Appraisals, we're skilled in all kinds of appraisal reviews, review procedures and the requirements of review appraisers.
When you choose Lone Star Appraisals, you can rely on our independent judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact Lone Star Appraisals to learn more about our qualifications, expertise and service offerings. |
|||||||||
Lone Star Appraisals understands what makes a quality appraisal and what the biggest inadequacies are, particularly for reports in our home market.
We're also experienced enough to recognize that the competition in our market are capable of a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Lone Star Appraisals to justly study appraisal reports performed by others. And those others may be reviewing our work, too!