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Absolute Appraisals Inc. Appraisal ReviewsAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Absolute Appraisals Inc. provides appraisal review services that are unbiased, qualified, professional and square with the Federal Reserve's guidelines.A review appraisal should ascertain: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the methods by which the real estate valuation is rendered ensures independence and quality. Moreover, they should show whether the appraisal or evaluation report is true to the engagement letter, which describes the scope of the appraisal assignment. Lastly, the Fed goes on to say 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 clients, there are four Fannie Mae forms that are generally used for review services, and we will produce 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 Absolute Appraisals Inc., we're skilled in every kind of appraisal review, review practice and the obligations of review appraisers.
Here at Absolute Appraisals Inc., you can trust our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and services offered. |
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We understand what the most prevalent report defects are, particularly in our housing market, as well as what amounts to a quality appraisal.
In the same sense, we're trained enough to identify that the competitors 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 trust us to justly study appraisal reports completed by others. And those others may be evaluating our work, too!