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Competent Appraisal Reviews by DuBose Appraisal ServiceAccording 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 completing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." DuBose Appraisal Service provides appraisal review services that are unbiased, qualified, professional and compliant with the Federal Reserve's regulations.A review appraisal should detect: whether the original appraisal or evaluation is relevant for the transaction, the exposure inherit in the transaction, and whether the manners by which the real estate valuation is obtained guarantees independence and quality. In addition, they should indicate whether the appraisal or evaluation report matches the letter of engagement, which gives an account of the capacity of the appraisal assignment. The Federal Reserve also 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 primarily used for review services, and we'll produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At DuBose Appraisal Service, we're qualified in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
You can rely on DuBose Appraisal Service for our neutral judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact us regarding our qualifications, expertise and services offered. |
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DuBose Appraisal Service understands what the greatest reporting weaknesses are, specifically in our real estate market. We also know what represents a quality appraisal.
The professionals at DuBose Appraisal Service are also experienced enough to know that our competitors in our market are able to do quality work.
The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can trust us to ethically assess appraisal reports performed by others. And those others may be evaluating our work, too!