|
|
Appraisal Reviews by Streamline Appraisals, LLC
As stated in an announcement
by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that
it's the prudent for appraisers producing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines."
Here at Streamline Appraisals, LLC, we provide appraisal review services that are independent, efficient, professional and compliant with the Federal Reserve's guidelines.
A review appraisal has to determine: whether the original appraisal or evaluation is suitable for the transaction, the exposure inherit in the transaction, and whether the actions by which the property valuation is rendered ensures independence and quality.
Moreover, they must signify whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the outlook of the appraisal assignment.
The Federal Reserve 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 adjusting our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form.
Here at Streamline Appraisals, LLC, we are experienced in every type of appraisal review, review process and the obligations of review appraisers.
We know what the biggest reporting weaknesses are, specifically in our real estate market. We also understand what amounts to a quality appraisal.
We're also sufficiently trained to identify that the competitors in our market are skillful in doing a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on us to justly examine appraisal reports completed by others. And those others may be evaluating our work, too!
You can rely on Streamline Appraisals, LLC for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers.
Contact Streamline Appraisals, LLC regarding our qualifications, expertise and service offerings.
|
|
