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Quality Appraisal Reviews by S&N Appraisal, IncAccording to a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that it's the obligation of appraisers preparing reviews to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." S&N Appraisal, Inc provides appraisal review services that are impartial, efficient, professional and compliant with the Federal Reserve's guidelines.A review appraisal should ascertain: whether the original appraisal or evaluation is applicable for the transaction, the risk inherit in the transaction, and whether the procedure by which the collateral valuation is attained guarantees independence and quality. The review must also denote whether the appraisal or evaluation report is compatible with the letter of engagement, which gives an account of the reach of the appraisal assignment. 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 adjusting our work to the procedures and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we can formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At S&N Appraisal, Inc, we are qualified in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
In short, here at S&N Appraisal, Inc, you can count on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact S&N Appraisal, Inc regarding our qualifications, expertise and service offerings. |
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S&N Appraisal, Inc knows what amounts to a quality appraisal and what the most prevalent errors are, especially for reports in our home market.
In the same sense, we're skilled enough to admit that the competitors in our market are qualified to do quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can count on S&N Appraisal, Inc to justly study appraisal reports carried out by others. And those others may be evaluating our work, too!