Experienced Appraisal Reviews with REVARI (Real Estate Valuation and Research Inc.)
According to an announcement by the Federal Reserve, "financial institutions must have effective, impartial real estate appraisal and evaluation plans," and that appraisers doing reviews ought to "have the knowledge and expertise to evaluate compliance with the Federal Reserves appraisal rules and guidelines." REVARI (Real Estate Valuation and Research Inc.) provides appraisal review services that are objective, expert, professional and square with the Federal Reserve's regulations.
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, contact us today.
As stated by the Federal Reserve, appraisal reviews "have to verify whether the appraisal or evaluation is applicable for the transaction, the liability of the transaction, and whether the actions by which the collateral valuation is obtained guarantees independence and quality." They "must also show whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve notes that "some institutions add routine reviews with post-funding evaluations of appraisal quality for some of their higher-liability or large-value transactions as a control to assist in detecting valuation concerns."
In addition to conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we will 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 trained in all forms of appraisal reviews, review processes and the obligations of review appraisers.
REVARI (Real Estate Valuation and Research Inc.) knows what makes a quality appraisal and what the most prevalent inadequacies are, especially in our real estate market. In the same regard, we're skilled enough to identify that our competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on REVARI (Real Estate Valuation and Research Inc.) to fairly assess appraisal reports carried out by others. And those others might be evaluating our work, too!
When you choose REVARI (Real Estate Valuation and Research Inc.), you can be sure of our honest judgment, because we offer professional, impartial, ethical appraisal review services for our customers. Contact REVARI (Real Estate Valuation and Research Inc.) to learn more about our qualifications, expertise and service offerings.