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Skilled Appraisal Reviews by Maria SheltonAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers fulfilling reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Maria Shelton, we provide appraisal review services that are independent, expert, professional and in line with the Federal Reserve's rules.A review appraisal has to find out: whether the original appraisal or evaluation is suitable for the transaction, the risk inherit in the transaction, and whether the manners by which the collateral valuation is accomplished ensures independence and quality. In addition, they must demonstrate whether the appraisal or evaluation report is in line with the engagement letter, which describes the capacity 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 conforming our work to the practices and guidelines of our review customers, there are four Fannie Mae forms that are generally used for review services, and we can produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Maria Shelton, we are experienced in all kinds of appraisal reviews, review procedures and the responsibilities of review appraisers.
For professional, fair, ethical appraisal review services and truthful judgments, you can depend on Maria Shelton. Contact us for more information about our qualifications, expertise and services offered. |
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We know what the most common report imperfections are, especially in our real estate market, as well as what amounts to a quality appraisal.
The professionals at Maria Shelton are also adequately skilled to know that the competitors in our market are able to do a good job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can trust us to ethically study appraisal reports carried out by others. And those others might be evaluating our work, too!