Competent Appraisal Reviews with Singleton & Associates, LLCAs said in a statement by the Federal Reserve (click here), "financial institutions must have an effective, independent real estate appraisal and evaluation program" and that appraisers doing reviews should "have the knowledge and expertise to assess compliance with the Federal Reserve's appraisal regulations and guidelines." At Singleton & Associates, LLC, we provide appraisal review services that are impartial, expert, professional and in accordance with the Federal Reserve's rules.
A review appraisal should ascertain: whether the original appraisal or evaluation is well-suited for the transaction, the liability inherit in the transaction, and whether the actions by which the real estate valuation is attained ensures independence and quality. They must also indicate whether the appraisal or evaluation report is in line with the engagement letter, which sets forth the scope of the appraisal assignment. The Fed also 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 procedures and guidelines of our review clients, 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. Here at Singleton & Associates, LLC, we're experienced in all kinds of appraisal reviews, review practices and the requirements of review appraisers.
We are aware of what makes a quality appraisal and what the greatest inadequacies are, especially for reports in our local real estate market. The professionals at Singleton & Associates, LLC are also skilled enough to admit that our competition in our market are capable of doing 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 objectively examine appraisal reports performed by others. And those others might be examining our work, too!
For professional, impartial, ethical appraisal review services and independent judgments, you can count on Singleton & Associates, LLC. Contact Singleton & Associates, LLC to learn more about our qualifications, expertise and services offered.