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Qualified Appraisal Reviews by Yellow Rose 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 appraisers preparing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Yellow Rose Appraisals, we provide appraisal review services that are impartial, qualified, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to determine: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the method by which the property valuation is obtained ensures independence and quality. Moreover, they should indicate whether the appraisal or evaluation report matches the engagement letter, which gives an account of the extent of the appraisal assignment. Lastly, the Fed 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 coordinating our work to the forms and guidelines of our review clients, there are four Fannie Mae forms that are largely used for review services, and we will formulate 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 Yellow Rose Appraisals, we are trained in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
For professional, impartial, ethical appraisal review services and truthful judgments, you can count on Yellow Rose Appraisals. Contact Yellow Rose Appraisals for more information about our qualifications, expertise and services offered. |
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We are aware of what the most likely report deficiencies are, especially in our housing market, as well as what constitutes a quality appraisal.
We're also skilled enough to admit that our competition in our market are capable of a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can count on us to justly evaluate appraisal reports carried out by others. And those others could be examining our work, too!