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Complete Appraisal Reviews by Central Mass AppraisalsAs stated in an announcement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers producing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Central Mass Appraisals provides appraisal review services that are independent, qualified, professional and compliant with the Federal Reserve's regulations.A review appraisal should find out: whether the original appraisal or evaluation is appropriate for the transaction, the liability inherit in the transaction, and whether the actions by which the collateral valuation is rendered guarantees independence and quality. In addition, they must demonstrate whether the appraisal or evaluation report matches the letter of engagement, which sets forth the scope of the appraisal assignment. Lastly, the Fed also 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 tailoring our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are widely used for review services, and we'll prepare 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 Central Mass Appraisals, we are experienced in all types of appraisal reviews, review processes and the obligations of review appraisers.
For professional, unbiased, ethical appraisal review services and independent judgments, you can depend on Central Mass Appraisals. Contact Central Mass Appraisals to learn more about our qualifications, expertise and services offered. |
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We realize what represents a quality appraisal and what the greatest deficiencies are, particularly in our local housing market. The professionals at Central Mass Appraisals are also adequately skilled to acknowledge that the competition in our market are capable of doing a good job. 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 might be examining our work, too!