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Appraisal ReviewsAs 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 preparing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Pinnacle Appraisal Group, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's regulations.A review appraisal has to reveal: whether the original appraisal or evaluation is appropriate for the transaction, the exposure inherit in the transaction, and whether the processes by which the property valuation is acquired ensures independence and quality. They should also denote whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the range of the appraisal assignment. The Federal Reserve 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 adjusting our work to the processes and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we'll 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 Pinnacle Appraisal Group, we are skilled in all types of appraisal reviews, review practices and the obligations of review appraisers.
You can depend on Pinnacle Appraisal Group for our truthful judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact Pinnacle Appraisal Group for more information regarding our qualifications, expertise and service offerings. |
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Pinnacle Appraisal Group understands what the most common reporting inadequacies are, specifically in our housing market. We also know what constitutes a quality appraisal.
We're also adequately skilled to admit that the competition 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 count on us to ethically valuate appraisal reports completed by others. And those others may be evaluating our work, too!