Savvy Appraisal Reviews with Harper Certified Appraisals, LLCAccording 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 doing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Harper Certified Appraisals, LLC, we provide appraisal review services that are independent, expert, professional and in accordance with the Federal Reserve's regulations.
A review appraisal should determine: whether the original appraisal or evaluation is pertinent for the transaction, the liability inherit in the transaction, and whether the practices by which the real estate valuation is accomplished guarantees independence and quality. In addition, they should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which describes the range of the appraisal assignment. The Fed 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 adapting our work to the regulations and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we can 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 Harper Certified Appraisals, LLC, we're skilled in every form of appraisal review, review practice and the obligations of review appraisers.
Harper Certified Appraisals, LLC realizes what the biggest reporting weaknesses are, especially in our home market. We also understand what amounts to a quality appraisal. In this regard, we're proficient enough to know that the competition in our market are capable of doing quality work. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can rely on Harper Certified Appraisals, LLC to justly look over appraisal reports completed by others. And those others may be evaluating our work, too!
When you choose Harper Certified Appraisals, LLC, you can count on our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.