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Getting a second opinion on an appraisalAccording to an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers producing reviews are compelled to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Carlson Agency LLC provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's guidelines.A review appraisal should detect: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the actions by which the real estate valuation is acquired ensures independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is true to the engagement letter, which gives an account of the scope of the appraisal assignment. Lastly, the Federal Reserve 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 forms and guidelines of our review customers, there are four Fannie Mae forms that are largely used for review services, and we'll 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. At Carlson Agency LLC, we are experienced in every kind of appraisal review, review process and the responsibilities of review appraisers.
In short, here at Carlson Agency LLC, you can have confidence in our truthful judgment, because we offer professional, unbiased, ethical appraisal review services for our clients. Contact us for more information regarding our qualifications, expertise and service offerings. |
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We are aware of what amounts to a quality appraisal and what the most frequent inadequacies are, particularly when it comes to our local housing market.
We're also experienced enough to acknowledge that our competition in our market are able to do a great job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Carlson Agency LLC to objectively examine appraisal reports executed by others. And those others could be studying our work, too!