Qualified Appraisal Reviews by RAB Real Estate Services, LLC.As 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 have to "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." Here at RAB Real Estate Services, LLC., we provide appraisal review services that are unbiased, qualified, professional and in line with the Federal Reserve's regulations.
The purpose of appraisal reviews are to reveal: whether the original appraisal or evaluation is applicable for the transaction, the liability inherit in the transaction, and whether the manner by which the collateral valuation is accomplished guarantees independence and quality. Moreover, they should indicate whether the appraisal or evaluation report is compatible with the engagement letter, which gives an account of the scope 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 conforming our work to the regulations and guidelines of our review customers, there are four Fannie Mae forms that are typically used for review services, and we'll 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 RAB Real Estate Services, LLC., we're qualified in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
We are aware of what the most prevalent report inadequacies are, particularly in our housing market, as well as what constitutes a quality appraisal. The professionals at RAB Real Estate Services, LLC. are also sufficiently trained to admit that our competition in our market are capable of a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews and appraisal reports, and you can rely on RAB Real Estate Services, LLC. to objectively look over appraisal reports carried out by others. And those others could be studying our work, too!
At RAB Real Estate Services, LLC., you can count on our honest judgment, because we offer professional, objective, ethical appraisal review services for our customers. Contact RAB Real Estate Services, LLC. to learn more about our qualifications, expertise and services offered.