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Getting a second opinion on an appraisalAccording 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 undertaking reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." INFINITY APPRAISAL GROUP, LLC provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's regulations.
A review appraisal should reveal: whether the original appraisal or evaluation is fitting for the transaction, the liability inherit in the transaction, and whether the procedures by which the property valuation is attained guarantees independence and quality. Moreover, they must indicate whether the appraisal or evaluation report is consistent with the engagement letter, which describes the range of the appraisal assignment. Lastly, the Federal Reserve says 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".
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If you have questions regarding an appraisal, or if you need a real estate appraisal review, contact us today. |
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In addition to coordinating our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we will develop an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at INFINITY APPRAISAL GROUP, LLC, we are skilled in all forms of appraisal reviews, review practices and the responsibilities of review appraisers.
 We know what amounts to a quality appraisal and what the greatest inadequacies are, particularly when it comes to our home market. In this regard, we're professional enough to respect that our competition in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust INFINITY APPRAISAL GROUP, LLC to fairly look over appraisal reports done by others. And those others may be examining our work, too!
You can rely on INFINITY APPRAISAL GROUP, LLC for our neutral judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and services offered.
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