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Competent Appraisal Reviews with Ransel Real Estate AppraisalsAs 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 duty of appraisers completing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Ransel Real Estate Appraisals, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's rules.A review appraisal should detect: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the process by which the real estate valuation is rendered ensures independence and quality. Moreover, they must signify whether the appraisal or evaluation report is compatible with the engagement letter, which describes the scope of the appraisal assignment. The Fed also notes 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 practices and guidelines of our review customers, there are four Fannie Mae forms that are mostly used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Ransel Real Estate Appraisals, we're skilled in every form of appraisal review, review practice and the obligations of review appraisers.
In short, when you choose Ransel Real Estate Appraisals, you can have confidence in our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings. |
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We are familiar with what makes a quality appraisal and what the most frequent deficiencies are, particularly for reports in our local real estate market.
We're also experienced enough to realize that our 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 Ransel Real Estate Appraisals to fairly examine appraisal reports done by others. And those others could be reviewing our work, too!