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Appraisal Reviews with ValueTex Appraisal ServicesAccording 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 engaged in reviews must "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." ValueTex Appraisal Services provides appraisal review services that are unbiased, efficient, professional and compliant with the Federal Reserve's guidelines.The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is appropriate for the transaction, the exposure inherit in the transaction, and whether the manner by which the property valuation is accomplished guarantees independence and quality. Moreover, they should demonstrate whether the appraisal or evaluation report matches the engagement letter, which sets forth the outlook of the appraisal assignment. The Federal Reserve goes on to say 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 adapting our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually 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. At ValueTex Appraisal Services, we are trained in all forms of appraisal reviews, review practices and the obligations of review appraisers.
In short, here at ValueTex Appraisal Services, you can have confidence in our truthful judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and services offered. |
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ValueTex Appraisal Services knows what the most frequent report deficiencies are, especially in our home market, as well as what amounts to a quality appraisal.
Concurrently, we are adequately experienced to identify that the competition in our market are qualified to do a great job.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can count on ValueTex Appraisal Services to objectively examine appraisal reports performed by others. And those others might be evaluating our work, too!