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Qualified Appraisal Reviews by Garza's Appraisal SolutionsAs said in an announcement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers completing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Garza's Appraisal Solutions, we provide appraisal review services that are independent, expert, professional and square with the Federal Reserve's regulations.A review appraisal has to determine: whether the original appraisal or evaluation is pertinent for the transaction, the exposure inherit in the transaction, and whether the manners by which the real estate valuation is obtained ensures independence and quality. The review should also show whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the scope of the appraisal assignment. The Federal Reserve states 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 processes and guidelines of our review clients, there are four Fannie Mae forms that are primarily used for review services, and we can produce 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 Garza's Appraisal Solutions, we're skilled in all types of appraisal reviews, review procedures and the responsibilities of review appraisers.
You can depend on Garza's Appraisal Solutions for our honest judgment, because we offer professional, fair, ethical appraisal review services for our clients. Contact Garza's Appraisal Solutions for more information regarding our qualifications, expertise and services offered. |
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Garza's Appraisal Solutions knows what the most common reporting imperfections are, specifically in our home market. We also know what represents a quality appraisal.
We're also sufficiently experienced to realize that our competition in our market are able to do a fine job.
The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews and appraisal reports, and you can trust Garza's Appraisal Solutions to justly review appraisal reports performed by others. And those others might be reviewing our work, too!