|
|
Metric Appraisals, LLC Appraisal Reviews
As 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
it's the responsibility of appraisers engaged in reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
At Metric Appraisals, LLC, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's rules.
The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is pertinent for the transaction, the risk inherit in the transaction, and whether the means by which the collateral valuation is acquired guarantees independence and quality.
Moreover, they should indicate whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment.
The Federal Reserve also 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 coordinating our work to the regulations and guidelines of our review customers, 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.
At Metric Appraisals, LLC, we are skilled in every form of appraisal review, review practice and the requirements of review appraisers.
We realize what amounts to a quality appraisal and what the most prevalent inadequacies are, specifically for reports in our local housing market.
At the same time, we are sufficiently skilled to distinguish that our competition in our market are capable of good work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to lawfully study appraisal reports performed by others. And those others might be examining our work, too!
When you choose Metric Appraisals, LLC, you can count on our neutral judgment, because we offer professional, fair, ethical appraisal review services for our customers.
Contact us regarding our qualifications, expertise and service offerings.
|
|
