Quality Appraisal Reviews by REVARI (Real Estate Valuation and Research Inc.)
As stated in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, impartial real estate appraisal and evaluation programs," and that appraisers fulfilling reviews ought to "have the ability and skills to determine compliance with the Federal Reserves appraisal regulations and guidelines." For appraisal review services that are impartial, expert, professional and square with the Federal Reserve's guidelines, contact REVARI (Real Estate Valuation and Research Inc.).
If you need a real estate appraisal review or have questions about an appraisal, call REVARI (Real Estate Valuation and Research Inc.) today.
Appraisal reviews "must determine whether the appraisal or evaluation is pertinent for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is acquired guarantees independence and quality," according to the Federal Reserve. In addition, they "must show whether the appraisal or evaluation report is consistent with the engagement letter, which describes the range of the appraisal assignment." Last, The Federal Reserve says that "some financial institutions add periodic reviews with post-funding surveys of appraisal quality for a few of their higher-risk or higher-value dealings as a control to help in exposing valuation dilemmas."
In addition to coordinating our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are normally used for review services, and we can produce 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 REVARI (Real Estate Valuation and Research Inc.), we are skilled in every form of appraisal review, review practice and the requirements of review appraisers.
REVARI (Real Estate Valuation and Research Inc.) understands what the biggest defects are, particularly in our real estate market, as well as what represents a quality appraisal. In this regard, the professionals at REVARI (Real Estate Valuation and Research Inc.) are sufficiently skilled to acknowledge that the competition in our market are capable of doing a great job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on REVARI (Real Estate Valuation and Research Inc.) to fairly study appraisal reports completed by others. And those others might be studying our work, too!
You can depend on REVARI (Real Estate Valuation and Research Inc.) for our independent judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us for more information regarding our qualifications, expertise and service offerings.