REVARI (Real Estate Valuation and Research Inc.) Appraisal Reviews
As said in a statement by the Federal Reserve, "financial institutions are obligated to have effective, independent real estate appraisal and evaluation programs," and that appraisers performing reviews must "have the familiarity and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are independent, expert, professional and square with the Federal Reserve's guidelines, contact REVARI (Real Estate Valuation and Research Inc.).
If you have questions about an appraisal, or if you need a real estate appraisal review, contact us today.
Appraisal reviews "must determine whether the appraisal or evaluation is appropriate for the transaction, the uncertainty of the transaction, and whether the processes by which the collateral valuation is acquired ensures independence and quality," as stated by the Federal Reserve. Moreover, they "should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the extent of the appraisal assignment." The Federal Reserve also notes that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for some of their high-liability or large-value transactions as a control to assist in addressing valuation concerns."
In addition to coordinating our work to the processes and guidelines of our review clients, there are four Fannie Mae forms that are normally used for review services, and we can 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 REVARI (Real Estate Valuation and Research Inc.), we're skilled in every form of appraisal review, review procedure and the responsibilities of review appraisers.
REVARI (Real Estate Valuation and Research Inc.) knows what makes a quality appraisal and what the biggest deficiencies are, specifically in our home market. We're also skilled enough to know that the competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to lawfully assess appraisal reports executed by others. And those others may be reviewing our work, too!
In short, here at REVARI (Real Estate Valuation and Research Inc.), you can rely on our honest judgment, because we offer professional, unbiased, ethical appraisal review services for our customers. Contact REVARI (Real Estate Valuation and Research Inc.) for more information about our qualifications, expertise and service offerings.