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Appraisal Reviews by a la modeAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers doing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At a la mode, we provide appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines.The purpose of appraisal reviews are to verify: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the manners by which the real estate valuation is attained guarantees independence and quality. They should also signify whether the appraisal or evaluation report is consistent with the letter of engagement, which describes the range of the appraisal assignment. The Federal Reserve 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 adjusting our work to the forms 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 a la mode, we're skilled in every kind of appraisal review, review procedure and the obligations of review appraisers.
You can depend on a la mode for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings. |
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We are aware of what the biggest reporting deficiencies are, particularly in our real estate market. We also know what constitutes a quality appraisal.
The professionals at a la mode are also skilled enough to realize that the competitors in our market are able to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust a la mode to ethically examine appraisal reports done by others. And those others could be reviewing our work, too!