B. Russell Valuation, LLC Appraisal Reviews
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation program," and that appraisers fulfilling reviews have to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, expert, professional and compliant with the Federal Reserve's guidelines, contact B. Russell Valuation, LLC.
If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "ought to figure out whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the procedures by which the collateral valuation is acquired ensures independence and quality," the Federal Reserve says. They "should also show whether the appraisal or evaluation report is consistent with the letter of engagement, which gives an account of the capacity of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce typical reviews with post-funding evaluations of appraisal quality for a few of their high-liability or larger-value transactions as a control to assist in discovering valuation issues."
In addition to adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we will prepare 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 B. Russell Valuation, LLC, we're experienced in all types of appraisal reviews, review practices and the obligations of review appraisers.
We're aware of what the biggest imperfections are, especially in our home market. We also know what constitutes a quality appraisal. Concurrently, we're professional enough to admit that our competitors in our market are qualified to do good work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on B. Russell Valuation, LLC to fairly review appraisal reports performed by others. And those others may be evaluating our work, too!
For professional, fair, ethical appraisal review services and independent judgments, you can depend on B. Russell Valuation, LLC. Contact B. Russell Valuation, LLC for more information regarding our qualifications, expertise and services offered.