Competent Appraisal Reviews with Roger Turner Co.According 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 performing reviews ought to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at Roger Turner Co., we provide appraisal review services that are objective, expert, professional and in accordance with the Federal Reserve's regulations.
A review appraisal should pursue: whether the original appraisal or evaluation is fitting for the transaction, the risk inherit in the transaction, and whether the manners by which the collateral valuation is attained guarantees independence and quality. In addition, they must show whether the appraisal or evaluation report is compatible with the letter of engagement, which describes the capacity of the appraisal assignment. The Federal Reserve 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 adjusting our work to the procedures and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will 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 Roger Turner Co., we're skilled in all kinds of appraisal reviews, review processes and the requirements of review appraisers.
Roger Turner Co. understands what the typical report imperfections are, specifically in our real estate market, as well as what makes a quality appraisal. We're also experienced enough to know that the competition in our market are capable of quality work. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on us to justly assess appraisal reports carried out by others. And those others might be examining our work, too!
At Roger Turner Co., you can have confidence in our honest judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact us for more information about our qualifications, expertise and service offerings.